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FHFA Announces Higher Loan Limits for 2019

As the result of a higher average U.S. home price in 2018, the Federal Housing Finance Agency (FHFA) has announced new, higher maximum conforming loan limits for 2019.

In most areas of the country, the 2019 maximum loan amount for one-unit properties will be $484,350, an increase from $453,100 in 2018.  In high-cost areas, the new maximum high balance loan limit will be $726,525, up from $679,650.  This is a 7% increase over the prior year.

As a special offer to our clients, Prosperity Home Mortgage, LLC can close loans using the 2019 limits beginning December 10, 2018.

Loan limits may vary by county. Click here for a list and map of the 2019 maximum loan limits for all counties and county-equivalent areas in the U.S.

 

 

New Conforming Loan Limit Sample:

   2019 Conforming Loan Limit   

   Maximum Sales Price   

   Down Payment Amount   

$484,350

$499,329

3%

$484,350

$605,437

20%

 

New High Balance Loan Limit Sample:

   2019 High Balance Loan Limit   

   Maximum Sales Price    

   Down Payment Amount   

$726,525

$764,763

5%

$726,525

$908,156

20%

 

Contact your mortgage consultant directly if you have questions on local limits or other home financing options.

 

 

 

All first mortgage products are provided by Prosperity Home Mortgage, LLC. (877) 275-1762. Prosperity Home Mortgage, LLC products may not be available in all areas. Not all borrowers will qualify. Licensed by the NJ Department of Banking and Insurance.  Licensed by the Delaware State Bank Commissioner.  Also licensed in District of Columbia, Florida, Georgia, Maryland, Michigan, North Carolina, Pennsylvania, South Carolina, Tennessee, Virginia, and West Virginia.

NMLS ID #75164 (NMLS Consumer Access at http://www.nmlsconsumeraccess.org/)

©2018 Prosperity Home Mortgage, LLC. All Rights Reserved.


Waives $6.2 Million in Fees for Active Military and Veterans

Since launching its VA Home Loan Advantage program in 2014, Prosperity Home Mortgage, LLC, (Prosperity) has saved active-duty military members and veterans over $6.2 million in origination fees and appraisal credits. As a full-service mortgage banker, we have funded over $1.4 billion and closed 4,198 VA home loans since November 11, 2014, when the program first began.

The VA Home Loan Advantage program continues to be offered to all Prosperity clients purchasing or refinancing a home using a VA loan.  The program waives the company’s standard origination fee and provides eligible clients with a lender credit to pay for the cost of a home appraisal.1

“At Prosperity Home Mortgage, LLC, we believe in supporting the brave men and women who serve our country in the military,” said Tim Wilson, president and CEO of Prosperity. “That’s why we are delighted to help lower the upfront cost of buying or refinancing a home for service members and veterans using a VA home loan.”

Additionally, Prosperity is pleased to share that Jonathan Haug, a senior mortgage consultant based in Virginia Beach, Virginia, has been recognized as the company’s top producer for VA home loans for the second year in a row. Haug closed 120 VA home loans with associated volumes over $33 million in 2017 and 2018. Haug is also a member of Prosperity’s Chairman’s Club for 2017, was named to Mortgage Executive Magazine’s Top 1% of Mortgage Originators in America 2017 list, and was recognized as one of the Virginia Housing Development Authority’s Top Producing Loan Officers in VHDA’s Fiscal Year 2018.

“It’s fantastic that Jonathan has once again earned this recognition, and we are thrilled to have funded over $1.4 billion in VA loan volume as a company since the program’s inception,” said Randy Krout, national sales manager of Prosperity. “We are very proud of the hard work that each of our mortgage consultants has put forth to make homeownership a reality for military service members and veterans, and it’s because of that ongoing commitment that we remain among the top lenders in the nation.”

Wilson added to Krout’s thoughts.  “Prosperity is in the business of financing homeownership and the American Dream, and our VA clients are a very important part of our business,” Wilson said. “We have employees who have friends and family in the military, and it is imperative to us that we support those who have served our nation.”

Additional incentive offers for settlement services and home inspections are also available in certain geographical locations.2,3  Ask your local mortgage consultant to find out if additional incentives are available in your area!

Learn more about a Veterans Affairs (VA) loan.

 

 

 

 

Prosperity Home Mortgage, LLC is not affiliated with any government agencies.

1. Borrowers are eligible for a lender credit toward closing costs on the Closing Disclosure on a new purchase, secured by a first mortgage or deed of trust (New Loan), subject to qualification, approval and closing with Prosperity Home Mortgage, LLC. Loan must close within 90 days from the date of loan application. Lender credit may not exceed $525.00 for appraisal. Credit coupon must be presented at time of application and all eligibility requirements met no later than 2 days prior to the New Loan closing date. This lender credit is void where prohibited and is non-transferable, subject to the terms herein, and valid on all complete applications received on or before 03/31/2019.

2. Participating settlement services companies:  RGS Title (District of Columbia, Maryland, Virginia); Sage Title Group (District of Columbia, Maryland, Virginia); Settlement Pros (District of Columbia, Maryland, Virginia); Mid-States title of SWVA (Virginia); Bon Air/Long & Foster Title Agency, LLC (Virginia)

3. Home inspection services provided by US Inspect include a 10% discount and a 90-day home inspection guarantee to all Veteran borrowers obtaining VA loan financing with Prosperity Home Mortgage, LLC. The home inspection guarantee covers items that were inspected by US Inspect and found to be operating properly at time of inspection.  For limitation and exclusions, please see 90 day guarantee terms and conditions. Use coupon code “VALOAN” and call: (888) 874-6773

All Incentive offers valid on complete VA home loan applications received between 10/01/2018 and 03/31/2019. Loan must close within 90 days from the date of loan application. Only one discount permitted per New Loan.

All first mortgage products are provided by Prosperity Home Mortgage, LLC. (877) 275-1762. Prosperity Home Mortgage, LLC products may not be available in all areas. Not all borrowers will qualify. Licensed by the NJ Department of Banking and Insurance.  Licensed by the Delaware State Bank Commissioner.  Also licensed in District of Columbia, Florida, Georgia, Maryland, Michigan, North Carolina, Pennsylvania, South Carolina, Tennessee, Virginia, and West Virginia.

NMLS ID #75164 (NMLS Consumer Access at http://www.nmlsconsumeraccess.org/)

©2018 Prosperity Home Mortgage, LLC. All Rights Reserved.


Scotsman Guide releases Top Mortgage Lenders 2017 rankings

Great news!  Prosperity Home Mortgage, LLC, (Prosperity) has once again been ranked as one of the top mortgage companies in the nation, according to the Scotsman Guide, the leading resource for mortgage originators. Prosperity, a full service mortgage banker that specializes in residential and refinance loans, earned the 43rd position on the Scotsman Guide’s Top Mortgage Lenders 2017 list, as ranked by overall volume.

Prosperity was ranked among entries from hundreds of mortgage companies across the country. To be eligible for consideration in rankings, all loan volume had to be from mortgages on one- to four-unit residential properties within the United States. No commercial or international loans were included. After receiving submissions, Scotsman Guide required written verification of top entrants’ volume from a certified public accountant, the chief financial officer at the company or a similar source.

“It’s a tremendous honor for our company and our team to have been recognized by the Scotsman Guide as one of the top mortgage companies in the United States,” said Tim Wilson, president and CEO of Prosperity. “I’m exceptionally proud of our team, and I’m confident that with our continued commitment to providing personalized and focused service to each and every Prosperity customer, we’ll remain among the top lenders in the nation for years to come.”

The Top Mortgage Lenders list appears in Scotsman Guide’s June 2018 residential edition, and rankings are available online at ScotsmanGuide.com/TopLenders2017. All Scotsman Guide rankings are now searchable at ScotsmanGuide.com/Rankings/Search.

Prosperity is committed to setting the highest standard for customer service and consistently exceeding our clients’ expectations.  Whether you are a home buyer, homeowner or real estate professional, we are ready to help guide you every step of the way to help ensure your home financing process with us is a smooth one.

To find a mortgage consultant near you, please visit our Areas We Serve web page.

 

 

 

All first mortgage products are provided by Prosperity Home Mortgage, LLC. (877) 275-1762. Prosperity Home Mortgage, LLC products may not be available in all areas. Not all borrowers will qualify. Licensed by the NJ Department of Banking and Insurance.  Licensed by the Delaware State Bank Commissioner.  Also licensed in District of Columbia, Florida, Georgia, Indiana, Maryland, Michigan, North Carolina, Pennsylvania, South Carolina, Tennessee, Virginia, and West Virginia.

NMLS ID #75164 (NMLS Consumer Access at http://www.nmlsconsumeraccess.org/)

©2016 Prosperity Home Mortgage, LLC. All Rights Reserved.


Prosperity Home Mortgage Named Among America’s Top 100 Mortgage Companies

Prosperity Home Mortgage, LLC, (Prosperity) has once again been ranked as one of the best mortgage companies in the nation by Mortgage Executive Magazine.1 The publication spotlights the country’s leading lenders in its annual list of Top 100 Mortgage Companies in America 2017, and Prosperity has earned a position in the top 50 for the fourth year in a row.

“We are thrilled that Mortgage Executive Magazine named Prosperity as one of the leading mortgage companies in the country, and thank our exceptional team of professionals for enabling the company to achieve such an honor,” said Tim Wilson, CEO of Prosperity Home Mortgage. “Rankings such as this one demonstrate the extraordinary service and commitment that our mortgage consultants provide to each of their clients. Their continuous dedication to providing personalized, focused service to every Prosperity customer is why we remain among the top lenders in the nation.”

Randy Krout, president of national sales at Prosperity, echoed Wilson’s thoughts. “It’s an honor to be ranked among the top mortgage companies in the country once again, and this award shows the wealth of knowledge, integrity and professionalism that our mortgage team brings to each transaction they do.” Krout said.

About Prosperity Home Mortgage, LLC

Prosperity Home Mortgage, LLC, is a full service mortgage banker that specializes in residential and refinance loans. It offers a wide range of mortgage products, including fixed and adjustable rate mortgages, jumbo loans, Federal Housing Administration (FHA) and Veterans Affairs (VA) loans, and renovation financing. Prosperity Home Mortgage is represented by more than 190 mortgage consultants. Prosperity Home Mortgage funded over 10,700 home loans with a loan volume of over $3 billion in 2017.  Prosperity currently operates in 12 states and Washington, D.C.

 

 

 

1. Ranking published in Mortgage Executive Magazine, Summer 2018 Edition.
All first mortgage products are provided by Prosperity Home Mortgage, LLC. (877) 275-1762. Prosperity Home Mortgage, LLC products may not be available in all areas. Not all borrowers will qualify. Licensed by the NJ Department of Banking and Insurance. Licensed by the Delaware State Bank Commissioner. Also licensed in District of Columbia, Florida, Georgia, Indiana, Maryland, Michigan, North Carolina, Pennsylvania, South Carolina, Tennessee, Virginia, and West Virginia.
NMLS ID #75164 (NMLS Consumer Access at http://www.nmlsconsumeraccess.org/)
©2018 Prosperity Home Mortgage, LLC. All Rights Reserved.


Prosperity Home Mortgage Ranked Among Top Mortgage Lenders in D.C. Area

We are delighted to share that Prosperity Home Mortgage, LLC (Prosperity) has been recognized by the Washington Business Journal as one of the top home mortgage lenders in the Washington, D.C., metro area. Prosperity earned 7th place on the publication’s annual list, which ranks companies within the region by their 2017 metro-area lending volume.

“It’s an incredible honor for our team at Prosperity to earn a position on the Washington Business Journal’s list of the top mortgage lenders,” said Tim Wilson, president and CEO of Prosperity. “I congratulate each member of our Prosperity team on their achievement and thank them for their support of the many homebuyers who work with our family of companies.” 

Randy Krout, president of national sales at Prosperity, shared Wilson’s excitement for the award. “Each member of our team works diligently to support the homebuyers who choose Prosperity as their lending partner, and we’re thrilled to have been recognized by the Washington Business Journal as one of the top lenders in the D.C. area,” said Krout. “The honor highlights our team’s wealth of knowledge, integrity and professionalism in supporting Prosperity’s mission, and it demonstrates our ability to deliver best-in-class service, exceptional support and competitive rates.”

Prosperity offers a wide range of mortgage products, including fixed and adjustable rate mortgages, and is represented by more than 190 mortgage consultants in offices across 13 states and Washington, D.C.  Click here to find a local mortgage consultant near you.

 

 

 

All first mortgage products are provided by Prosperity Home Mortgage, LLC. (877) 275-1762. Prosperity Home Mo­­­rtgage, LLC products may not be available in all areas. Not all borrowers will qualify. Licensed by the NJ Department of Banking and Insurance.  Licensed by the Delaware State Bank Commissioner.  Also licensed in District of Columbia, Florida, Georgia, Indiana, Maryland, Michigan, North Carolina, Pennsylvania, South Carolina, Tennessee, Virginia, and West Virginia.
NMLS ID #75164 (NMLS Consumer Access at http://www.nmlsconsumeraccess.org/)
©2018 Prosperity Home Mortgage, LLC. All Rights Reserved.


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