Due to rising home prices, the Federal Housing Finance Agency announced Tuesday that it would raise loan limits for mortgages backed by Fannie Mae and Freddie Mac.
In most of the country, the 2021 maximum conforming loan limit for single-family properties will be $548,250. That marks a 7.4% increase from last year’s limit of $510,400. The FHFA’s loan limits define the maximum amount that Fannie and Freddie can finance for a one-unit single-family home.
Continue…https://magazine.realtor/daily-news/2020/11/25/fhfa-increases-conforming-loan-limits-for-2021
