Searching for a home in today’s competitive market? We have good news for you!
If you’ve been in search of a home in today’s competitive market, Ideal Lending, A Division of American Financial Network, Inc. has some good news for you.
The Federal Housing Administration (FHA) announced the 2021 Nationwide Forward Mortgage Limits and the Federal Housing Finance Agency (FHFA) announced the 2021 Conforming Loan Limits. The limits will take effect on January 1, 2020. These increases may assist qualified customers whose borrowing power may have been limited by the previous cap.
See below for FHA, Conforming and HECM (Reverse Mortgage) loan limits. These increases will assist qualified customers whose borrowing power may have been limited by the previous cap.
2021 increases are as follows:
- FHA $356,362
- CONFORMING $548,250
- REVERSE MORTGAGE $822,375
Contact your Ideal Lending loan officer for your local area loan limits.
*Loan limits shown are for 1-unit properties in low cost areas. 2-4 unit properties and high cost areas may have higher loan limits. Please consult your loan professional for details. American Financial Network, Inc. is notacting on behalf of or at the direction of the federal government, and this offer is not being made by an agency of the government. Sources: www.hud.gov | www.housingwire.com | www.fhfa.gov