Fannie Mae has just announced that the conforming loan limits for 2014 in Garfield County will be raised to $625,500 from $417,000.
This is good news especially for higher dollar neighborhoods in Glenwood Springs and Carbondale. Previously, sellers in these areas whose homes were worth more than the $417,000 had a harder time selling because borrowers had a hard time getting financing without a very large down-payment. This was particularly evident in Blue Lake where some homes are in Garfield and some are in Eagle (whose conforming limit was already $625,500).
Conforming loan limits in Eagle and Pitkin Counties remain unchanged at $625,500.