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Conventional Loan Limit Increase 2020

Conventional Loan Limit Increase 2020

CategoriesFinancial Education / First Time Home Buyer / News & Awards / Realtor / Realtor Blog

Rebecca Squyres

November 27, 2019

GMFS is now accepting new applications with increased 2020 conventional loan limits!

The Federal Housing Finance Agency (FHFA) announced Tuesday that conventional loan limits are increasing.

The new 2020 base loan limit in most of the country will be $510,400 (a 5.4% increase over 2019).

2020 loan limits

How can you start using these new limits?

New conventional loan limits may be used with new applications beginning November 27, 2019.
More details are available in Fannie Mae Lender Letter LL-2019-09 and Freddie Mac.

 

 

 

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Equal Housing Lender. ©2017 GMFS LLC. Loan programs not available in all states, or to all consumers. All loans are subject to availability at the time of application and for terms that meet each individual consumer’s needs and qualification information. Loan applications are subject to credit and property approval. GMFS LLC encourages all consumers to consult with a tax advisor concerning the tax implications for the type of mortgage sought. All mortgages are originated by GMFS LLC, NMLS ID #64997, at 7389 Florida Blvd. Suite 200A Baton Rouge, LA 70806. The retail division of GMFS LLC is Doing Business As “GMFS Mortgage”.

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