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Combatting Misinformation

Question: Will upzones driven by 2023s HB 1110 and 1337, or locally-adopted zoning changes, cause existing single-family properties to lose eligibility for conforming financing or FHA- and VA backed loan products on a widespread basis?
Answer: No. Any upzone can cause some homes to lose eligibility for certain loan products, either by increasing the property value to require borrowing beyond “conforming” limits, or if an appraiser writes that the upzoned land is no longer in its “highest and best use.” However, a single-family property will not lose eligibility for these loan products just because it has been upzoned.

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