We know that homeownership is one of life’s biggest financial commitments. At Caliber Home Loans, Inc. we want to help you achieve affordable homeownership. Did you know that the limit for conforming home loans increased this year? This limit increase is a good thing, because it expands your home buying options!
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The Federal Housing Finance Agency (FHFA) has raised the 2020 maximum conforming loan limit for one-unit properties in most areas to $510,400. This reflects a $26,050 increase from the 2019 $484,350 limit.
This increase is a result of generally rising home values, the increase in the baseline loan limit, and the increase in the ceiling loan limit. The new $510,400 limit applies to most, but not all counties. The result is more happy customers in more homes in even more markets!
New High-Cost Area Limits
The new ceiling loan limit for one-unit properties in most high-cost areas will be $765,600, which is equal to 150% of the $510,400 limit for other areas. Find your county’s loan limit by visiting www.fhfa.gov.
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Helping others realize their dreams of homeownership is my daily goal. Contact me today to learn more, or if you have questions!
Senior Loan Consultant
155 3rd Avenue South, Suite 2
Edmonds, WA 98020
Caliber Home Loans, Inc., 1525 S. Beltline Rd Coppell, TX 75019 NMLS ID #15622 (www.nmlsconsumeraccess.org). 1-800-401-6587. Copyright © 2020. All Rights Reserved. [Equal Housing Lender.] This is not an offer to enter into an agreement. Not all customers will qualify. Information, rates, and programs are subject to change without prior notice. All products are subject to credit and property approval. Not all products are available in all states or for all dollar amounts. Other restrictions and limitations apply. Washington Consumer Loan Company License No. CL-15622.