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2021 loan limits increase for Fannie Mae, Freddie Mac, and FHA mortgages

  • Dec 2, 2020
Industry News 12-02

Most areas: The Federal Housing Finance Agency (FHFA) and Federal Housing Authority recently announced new baseline conforming loan limits for Fannie Mae, Freddie Mac, and FHA mortgages in 2021. As shown in Table 1 below, the Fannie Mae and Freddie Mac limit will be $548,250 for one-unit properties in most areas. The FHA limit for one-unit properties in most areas will be $356,362. Limits in Alaska, Hawaii, Guam, and the U.S. Virgin Islands are higher.

High-cost areas: As shown in Table 2 below, the new 2021 loan limits in FHFA- and FHA-designated high-cost areas are higher.

These loan limit increases are significant for homebuyers and homeowners! These higher limits keep homebuyers in step with the rising housing market. With conforming loans, homebuyers can purchase homes with lower down payments and more competitive rates! Homeowners can access more equity in their home by allowing them to borrow up to the increased conforming loan limit.

FHFA and FHA Limits 2021

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