Fannie Mae And Freddie Mac Conventional Loan Limits To Increase In 2020

Dated: November 28 2019

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New Conventional Mortgage Loan Limits for Home Buyers in 2020

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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

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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 ....

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