Maximum Conforming Loan limit hits $510,000 in 2020!

Big news for mortgages! The Federal Housing Finance Agency recently announced that it is raising the conforming loan limits for Fannie Mae and Freddie Mac. In most of the U.S., the 2020 maximum conforming loan limit will be raised to $510,400, up from 2019’s level of $484,350. This marks the fourth straight year that the FHFA has increased the conforming loan limits after not increasing them for an entire decade from 2006 to 2016. Please contact with me with any questions you may have about this increase, or anything concerning the sale or purchase of a home. I am happy to help! 

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