FHFA Increases Limits for 2020

Nov 26, 2019

Photo credit: Getty Images/Olivier Le Moal

The Federal Housing Finance Agency (FHFA) set maximum conforming loan limits for mortgages to be acquired by Fannie Mae and Freddie Mac in 2020 at $510,400 for one-unit properties, up from $484,350 in 2019.

In areas where 115 percent of the local median home value exceeds the baseline conforming loan limit, the maximum loan limit will be higher than the baseline loan limit. The new ceiling loan limit for one-unit properties in most high-cost areas will be $765,600, or 150 percent of $510,400.

The FHFA also noted that special statutory provisions will be used to loan limit calculations for Alaska, Hawaii, Guam, and the U.S. Virgin Islands, where the baseline loan limit will be $765,600 for one-unit properties.

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Phil Hall

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Nov 26, 2019

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