2020 Conforming Loan Limits for 1,2,3, and 4-Unit Properties
The Federal Housing Finance Agency (FHFA) recently announced new and improved 2020 loan limits for Conforming and High balance mortgages.
The maximum Conforming Loan Limit for 2020 for a majority of our country will be $510,400 (for one-Unit properties). This is an increase of 5.38% from $484,350 recorded in 2019.
As a result of generally rising home values, the increase in the baseline loan limit, and the increase in the ceiling loan limit, the maximum conforming loan limit will be higher in 2020 in all but 43 counties or county-equivalents in the U.S.
For Alaska and Hawaii, the baseline loan limits are $765,600 owing to Special statutory provisions.