New Loan Limits For 2021!

Based on new higher values of homes across America, conventional loans have been increased for 2021. This means that you can get a larger loan without going into the jumbo loan category.

Jumbo loans require a larger down payment and carry a higher interest rate, so this is great news for home buyers!

CONVENTIONAL LOANS

New limit is $548,250 for a regular one-unit home.

In areas where the median price of homes is higher than average — such as some counties in California, Western Washington, New York as well as other states — the new loan is higher.

The High Balance loan limit is $822,375.

Duplexes, tri-plexes, and four-unit properties also have higher limits.

For a chart showing loan limits in all U.S. counties, click here.

For a really cool map where you can scroll over all the counties in the U.S., click here.

HOW TO GET A HIGHER LOAN LIMIT NOW

If you want to take advantage of the higher loan limits now instead of waiting for 2021, mortgage brokers have access to this now.

3 thoughts on “New Loan Limits For 2021!

  1. I don’t understand why this would happen. My only guess is the infinite liquidity from the Federal Reserve helping push home prices to infinity … and beyond! With the Covid-19 epidemic and a slew of unemployment claims, this seems like a second bubble. Thank you for the article, as this will get very interesting.

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