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Conventional Conforming loan limits now up to $625,000

FHFA Announces Higher Loan Limits for 2021

FHFA Announces Higher Loan Limits for 2021

As the result of a higher average U.S. home price in 2020, the Federal Housing Finance Agency (FHFA) has announced new, higher maximum conforming loan limits for 2021.

In most areas of the country, the 2021 maximum loan amount for one-unit properties will be $548,250, an increase from $510,400 in 2020.  In high-cost areas, the new maximum high balance loan limit will be $822,375, up from $765,600.  This is about a 7.41% increase over the prior year.

Loan limits may vary by county. Click here for a list and map of the 2021 maximum loan limits for all counties and county-equivalent areas in the U.S.

 

New Conforming Loan Limit Sample:

   2021 Conforming Loan Limit   

   Maximum Sales Price   

   Down Payment Amount   

$548,250

$565,206

3%

$548,250

$685,312

20%

 

New High Balance Loan Limit Sample:

   2021 High Balance Loan Limit   

   Maximum Sales Price    

   Down Payment Amount   

$822,375

$865,657

5%

$822,375

$1,027,968

20%

 

Contact your mortgage consultant directly if you have questions on local limits or other home financing options.

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