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Mortgage Loan Limits Increased for 2020

Mortgage News > Mortgage Loan Limits Increased for 2020
Date: 01/14/2020    Mortgage Loan Limits Increased for 2020

The Federal Housing Finance Agency has raised loan limits on federally-backed mortgage loans for 2020 based on a national increase in home prices. The Fannie Mae and Freddie Mac conventional loan limit is now $510,440 in most areas, up from $484,350. Fewer buyers may need jumbo loans, as the limit for high-cost areas increased to $765,600 from $725,525. Borrowers of FHA mortgages can now get a loan up to $331,760, up from $314,827. The loan limits for VA mortgages have been eliminated altogether.

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