For the high cost areas, the new ceiling loan limit for a one-unit property will rise to $765,600 or 150% of $510,400. Therefore, the maximum loan limits will increase in many counties.
Over a period of one year, the median home values have increased generally, and particularly in the high-cost areas. The new conforming loan limit applies for the one-unit properties.įor the areas where the local median home value is above the baseline conforming loan limit, the borrowers will enjoy a higher maximum loan limit. Starting January 2020, the conforming loan limits for Federal National Mortgage Association (aka Fannie Mae) and the Federal Home Loan Mortgage Corporation (Colloquially known as Freddie Mac) will be more than $510,000, an increase from $484,350 in 2019. In a recent news release, the Federal Housing Finance Agency announced an increase on the maximum conforming loan limit by nearly $100,000 since 2016.
