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Each year, home loan limits are assessed as they relate to average home prices. Appreciation in home values can lead to an increase in loan limits. See below for how this impacts you…
Limit Changes for 2021
“Conforming” loan limits are increasing from $510,400 to $548,250 (one-unit homes…multi-unit homes vary).
“High Balance” conforming loan limits for one-unit homes are increasing from $765,600 to $822,375.
Impact on You
With COVID changes to Jumbo home loans, this now enables more borrowers to fit within conventional financing, which offers more flexible guidelines and beneficial loan terms!
This also allows more folks to do cash-out loans with the increased limits.
We’re already accepting these new loan limits now, even though they don’t take effect until January 1, 2021.
Contact us if you have questions!