As announced in Freddie Mac Bulletin 2018-7 the Home Possible income limits have been updated for 2018 as of July 29, 2018.
Income limits (2017 or 2018) will be applied as follows:
- Loans submitted to Loan Product Advisor (LPA) on and after July 29th that were previously submitted as a Home Possible loan and the income limits were met, the better of the 2017 or 2018 income limits will apply.
- The following will have the 2018 income limits applied:
- New submissions to LPA on and after July 29, 2018, or
- The “Key Number