Alex Lieb Operations Manager

Good News! The Federal Housing Finance Agency (FHFA) recently announced the maximum conforming and jumbo-conforming loan limits for mortgages acquired by Fannie Mae and Freddie Mac in 2020.

The maximum conforming loan limit for 2020 will be $510,400, an increase from $484,350 in 2019.

In the high-cost areas, the new loan limit for jumbo-conforming loans will be $765,600, an increase from $726,525 in 2019.

With this change, you may be able to:

Purchase a higher-priced home with more financing options

Refinance an existing, higher-rate "jumbo" loan and possibly drop mortgage insurance premiums

Combine a 1st and 2nd mortgage

Reach out today to see what this change could mean for you!