The Federal Housing Finance Agency today said that it will raise the maximum conforming loan limits for mortgages Fannie Mae and Freddie Mac purchase in 2020 from $484,350 to $510,400. The announcement marks the fourth time FHFA has increased the baseline loan limit since 2006.
In high-cost areas, such as Los Angeles, New York, San Francisco and Washington, D.C., the maximum loan limit will be $765,600, which is 150 percent of the nationwide conforming loan limit. Limits will rise in all but 43 counties in the country.
ADVERTISEMENT
