What is the Conforming Loan Limit?

Dear Ali, 

The Federal Housing Administration (FHA) just released the conforming loan limits for 2021, and you may be wondering what this means for you. 

What is the Conforming Loan Limit? 

The conforming loan limit is the dollar cap on a home mortgage that the FHA will finance. Due to house price appreciation this past year, most of the country will see an increase in the conforming loan limit in 2021. 

The national conforming loan limit as of January 1, 2021, will be $548,250. However, in the higher cost areas of the United States, the loan limit ceiling will increase from $765,600 to $822,375.

So, what does this mean for you? Luckily, you don't need to figure it out on your own. I would love to connect and discuss your mortgage options! 

Sincerely, 

Anna Smith