Effective immediately, Gateway is aligning with the recent conforming loan limit increases announced by FHFA for both standard and high balance loans.
- Increased loan limits are effective for new locks for Conventional loans only.
- Government loan limits, Texas Veteran Land Board Loans, and Specialty Lending products remain unchanged.
- Loans with AUS approve/ineligible results, solely due to the loan amount exceeding 2023 limits, but meeting the limits listed above are eligible for purchase by Gateway.
- Please note, if a DU loan has more than just loan amount for ineligible feedback, we will request DU be re-run prior to loan purchase. LPA loans must be ineligible only due to the loan amount exceeding the 2023 limits but fitting within the limits shown above.
*DU and LPA are scheduled to be updated the weekend of December 2nd
Please see the press release here: FHFA Announces Conforming Loan Limit Values for 2024