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Updated 2020 Conforming Loan Limits

*Post Update – please see the new 2023 Conforming loan limit here.

New conforming loan limits were just announced this week.  The base conforming loan limit has increased from $424,100 to $453,100.  High-cost locations were also adjusted higher per the chart below.

2018 Conforming Loan Limits:

 

 

1-Unit2-Unit3-Unit4-Unit
Fannie Mae$453,100$580,150$701,250$871,450
Freddie Mac$453,100$580,150$701,250$871,250
VA*$453,100$580,150$701,250$871,250
FHA*$294,515$377,075$455,800$566,425

The FHA loan limit is set at 65% of the conforming loan limit and can vary by county. VA loan limits follow the basic conforming loan limits listed.

High-cost loan limits for locations in which 115% of the local median home value exceeds the baseline conforming loan limit. The maximum limit is 150% of the conforming loan limit. Limits can be higher in Hawaii, Alaska, Guam and the U.S. Virgin Islands

High-Cost Locations:

 

 

 

1-Unit2-Unit3-Unit4-Unit
Fannie Mae$679,650$870,225$1,051,875$1,307,175
Freddie Mac$679,650$870,225$1,051,875$1,307,175
VA*$679,650$870,225$1,051,875$1,307,175
FHA*$679,950$870,225$1,051,875$1,307,175

Questions? Please contact us at the number above 7 days a week.

 

 

 

 

Filed Under: Conventional Loans Tagged With: 2018 conforming loan caps, 2018 conventional loan limits

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CONTACT US

904-810-2293
redd@coast2coastlending.com
Coast 2 Coast Lending
93 King St
St. Augustine, FL 32084
Branch NMLS# 2047476

NMLS CORPORATE ID #1850
NMLS Consumer Access


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© 2020 American Pacific Mortgage Corporation. For informational purposes only. No guarantee of accuracy is expressed or implied. Programs shown may not include all options or pricing structures. Rates, terms, programs and underwriting policies subject to change without notice. This is not an offer to extend credit or a commitment to lend. All loans subject to underwriting approval. Some products may not be available in all states and restrictions may apply. Equal Housing Opportunity.

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