Luxury Condo Communities In Downtown St. Pete You Need to Know About...Among many reasons for purchasing an upscale home in a sophisticated, exquisite community in St Petersburg, FL, there is
Fannie Mae And Freddie Mac Conventional Loan Limits To Increase In 2020
Dated: 11/28/2019
Views: 275
New Conventional Mortgage Loan Limits for Home Buyers in 2020
Fannie Mae and Freddie Mac announced this week that conventional mortgage loan limits will be increasing for the 4th year in a row in 2020.
Previously, a home buyer wanting to get a conventional mortgage loan had a loan limit of $484,350. With the new guidelines taking effect in 2020, borrowers will now be able to get a conventional mortgage loan for up to $510,400.
So what does this mean?
Borrowers will now have more home purchasing power, while getting the often lower mortgage interest rates and benefits of a conventional loan. For example, under the new loan limits a home buyer with a budget of up to $638,000 and a 20% down payment, would now qualify for the maximum conventional mortgage loan limit of $510,400 in 2020.
For more details about the new loan limits, check out this article from Housing Wire by clicking HERE.
Andrea Hartmann
Andrea is the Managing Partner of The Sandy Hartmann Group. Andrea was born and raised in the Tampa Bay area and is a licensed Realtor with over 15 years of Marketing and Finance experience, holding ....
Latest Blog Posts
10 Great Reasons to Move to Tampa Bay FloridaWith working-from-home and telecommuting becoming the new norm around the U.S., my team and I want to share the Top 10 Reasons for moving to
Why We Don't Think There Will Be A Wave Of Foreclosures In The Tampa Bay AreaAccording to the team at First American, a wave of foreclosures from the recent COVID-19 Pandemic is highly unlikely
Will We See a Surge of Home Buyers Moving to the Suburbs?As remote work continues on for many businesses and Floridians weigh the risks of being in densely populated areas, will more people start to
Copyright © MFRMLS.com All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in
