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      • Why get pre-approved
      • Affordability Calculator
      • PreApproval vs PreQualify
      • First Time Homebuyer Classes
      • Compare to Save
      • Documents Needed
    • Quick Qualify
    • Rates & Closing Costs
      • Interest Rates
      • Get a rate and cost quote
      • Lock and Shop
      • Calculator
      • What are closing costs
      • Daily Rate Advisory
      • Best Rate or Lowest Costs
      • Lender Shopping Tips
      • Lock Policy
      • Closing Cost Terms
      • Beware the Bad Estimate
      • Mortgage Rate Locks
      • Truth About Interest Rates
      • What is APR
    • Loan Programs
      • Programs at a Glance
      • Buying a House
      • Bad Credit Loans
      • Commercial / Apartment
      • Down Payment Assistance
        • Dakota County FTHB
      • Doctor Loans
      • First Time Home Buyer
      • FHA Loans
        • FHA Streamline Refinance
        • 203k Loans Buy and Fix
        • FHA Loan Limit Lookup
        • FHA loan required repairs
      • HomeReady / Home Possible
      • Investor DSCR Loans
      • Luxury home financing
      • Jumbo Loans
      • New Construction Loans
        • One time close construction loan
      • No Down Payment Loans
      • No Doc / Non-QM
        • Business Narrative
      • Refinancing
        • Should I Refi
        • Contract for Deed Refi
        • Mortgage Checkup
        • Refi Calculator
      • Renovation Loans
        • 203k Rehab Loans
        • HomeStyle Renovation
      • Loans for Self Employed
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      • After BK or Foreclosure
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      • Long Term Rate Locks
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  • Conforming loan limit increased for 2021

    November 24, 2020 | Blog | Joe Metzler
  • Minneapolis, MN: Fannie Mae and Freddie Mac have just announced an increase in the conforming loan limit for 2021 to $548,250. Up from the current limit of $510,450.

    Conforming Loan Limit
     
    Conforming loans mean your standard conventional loans that lenders do that are eventually securitized by Fannie Mae or Freddie Mac, and are the loans that give most home owners the best interest rates, and are the biggest percentage of home loans done.
     
    Loans over the loan limit are known as jumbo mortgages, and carry different interest rates and underwriting guidelines.

    What About VA Loans, FHA loans, and USDA Loans?

    FHA loans use a different factor to determine loan limits, and also can be different county to county. FHA loan limit changes are expected to come out shortly. VA loans are also calculated differently, and it is all about how much VA loan entitlement you have available as a Vet.
     

    Read the full official announcement here.

    You can also check current loan limits for multi-family homes, and FHA loans on our loan limit lookup page.

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    Cambria Mortgage
    NMLS# 322798 Branch: 1888858

    Joe Metzler Loan Officer
    NMLS# 274132. License MN #MLO-274132, WI #11418. SD #MLO.03095, ND #NDMLO274132, IA #36175

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  • Equal Housing Lender, Cambria Mortgage NMLS# 322798. The Joe Metzler team at Cambria Mortgage lends in: Minnesota, Wisconsin, Iowa, North Dakota, and South Dakota only. This is not an offer to lend or to extend credit, nor is this a guaranty of loan approval or commitment to lend. Information here can become out of date, and may no longer be accurate. Products and interest rates are subject to change at any time due to changing market conditions. Not all programs available in all states. Actual rates available to you may vary based upon a number of factors. Consumers must independently verify the accuracy and currency of available mortgage programs. All loan approvals are subject to the borrower(s) satisfying all underwriting guidelines and loan approval conditions and providing an acceptable property, appraisal and title report. © 1998 - 2023, Joe Metzler, NMLS 274132. Cambria Mortgage NMLS 322798

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