ANN ARBOR, Mich., October 13, 2021 / PRNewswire / – Homepoint, one of the nation’s leading mortgage originators and managers, today announced that it has increased the compliant loan limit for conventional loans to $ 625,000.
Homepoint is one of the first mortgage lenders in the United States to increase the conventional loan limit from $ 548,250 to $ 625,000 to help its mortgage broker partners support more borrowers in their respective communities.
“Given the significant appreciation in home prices across the country, we wanted to act quickly to support this market so that our mortgage broker partners could be at the forefront of providing more affordable housing to borrowers in their communities. communities, ”said Phil shoemaker, president of Originations at Homepoint. “As homebuyers aim to take advantage of rates that are still historically low, before the FHFA determines and announces what their limits will be for 2022, we have taken this step to ensure that their best financial options are available through mortgage brokers. “
Homepoint’s extension of its compliant loan limit, which applies to single-family properties on the mainland United States, and requires full assessments, precedes any official announcement of the 2022 National Compliant Loan Limit by the Federal Housing Finance Agency.
For more information on eligibility requirements, see Homepoint’s Wholesale Guide newsletter.
Homepoint, a subsidiary of Home Point Capital Inc. (NASDAQ: HMPT), is one of the nation’s leading mortgage providers and services, putting people at the center of the buying and owning experience. The company supports successful homeownership as a critical part of broader financial security and well-being by delivering long-term value beyond lending. Founded in 2015 and based in Ann Arbor, Michigan, Homepoint works with a nationwide network of over 6,000 mortgage brokers and correspondent partners with in-depth knowledge and expertise of the communities and clients they serve. Today, Homepoint is the country’s third largest wholesale mortgage lender and seventh non-bank mortgage lender.
Home Point Financial Corporation d / b / a Homepoint. NMLS # 7706 (For licensing information, visit: nmlsconsumeraccess.org). Home Point Financial Corporation does not carry on business as “Homepoint” in IL, KY, LA, MD, NY or WY. In these states, the company operates under the full legal name, Home Point Financial Corporation. 2211 Old Earhart Road, Suite 250, Ann Arbor, Michigan 48105. Toll free phone: 888-616-6866.
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