by Alasha Krieg | Dec 12, 2024 | Announcements
New Conforming Loan Limit – Effective immediately, Gateway is aligning with the recent conforming loan limit increases announced by FHFA for both standard and high-balance loans. The 1-unit standard balance limit is increasing from $766,550 to $806,500, and the 1-unit...
by Alasha Krieg | Oct 28, 2024 | Announcements
Fannie Mae, Freddie Mac, and HUD have expanded Reconsideration of Value (ROV) requirements outlining specific guidelines to enhance expectations for borrowers, lenders and appraisers. Effective with loan applications taken on or after 10/31/24 for all Conventional,...
by Alasha Krieg | Oct 8, 2024 | Announcements
In anticipation of the FHFA announcement, Gateway Correspondent is increasing our Conventional loan limits effective immediately for 1-unit properties. • Increased Conventional loan limits are effective with new locks on 1-Unit properties only. • Loan limit increases...
by Alasha Krieg | May 7, 2024 | Announcements
Effective immediately, the new down payment assistance (DPA) enhancement to FNMA HomeReady and FHLMC Home Possible products for very low-income purchase (VLIP) borrowers, are now eligible with Gateway Correspondent Lending. Borrowers may receive $2,500 in assistance,...
by Alasha Krieg | Dec 21, 2023 | Announcements
We are pleased to announce the increase in loan amount limit from $726,200 to $766,550 with NEW loan registrations on or after January 1st, 2024 for TVLB loans. Current locks do not qualify for a loan amount increase to the new limit and any relock requests will be...
