3 Ways Mortgages Are Easier to Get in 2016

Relaxed rules help retirees, first-time buyers and buyers in expensive markets.

Changes to look for in 2016:

Higher loan limits. Home buyers in nine high-cost metro areas can borrow more before resorting to “jumbo” loans. For most of the country, the limit is still $417,000 for loans backed by Fannie Mae or Freddie Mac.

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Patricia Mertz Esswein
Contributing Writer, Kiplinger's Personal Finance
Esswein joined Kiplinger in May 1984 as director of special publications and managing editor of Kiplinger Books. In 2004, she began covering real estate for Kiplinger's Personal Finance, writing about the housing market, buying and selling a home, getting a mortgage, and home improvement. Prior to joining Kiplinger, Esswein wrote and edited for Empire Sports, a monthly magazine covering sports and recreation in upstate New York. She holds a BA degree from Gustavus Adolphus College, in St. Peter, Minn., and an MA in magazine journalism from the S.I. Newhouse School at Syracuse University.