The substantial appreciation of residential real estate values in 2020 has helped the Federal Housing Finance Agency (FHFA) push the maximum loan amounts allowed for conforming loans to new highs. On a national level, the base loan amount increased from $510,400 (2020) to $548,250 (2021). The limits in “High Cost” areas were $765,600 (2020) now $822,375.
The higher conforming loan amounts will allow for property purchase and refinance loans to be originated at lower interest rates for the higher amounts, without being pushed to the higher “Jumbo” rates.
Not all counties are created equal… The new High Balance Loan Limited for the local counties:
Los Angeles maximum 1 unit $822,375 2 unit $1,053,000 3 unit $1,272,750 4 unit $1,581,750
Ventura County maximum 1 unit $739,450 2 unit $946,650 3 unit $1,144,250 4 unit $1,422,050
Orange County maximum 1 unit $822,375 2 unit $1,053,000 3 unit $1,272,750 4 unit $1,581,750
For a breakdown of 2021 limits throughout the nation broken down by county
FHA and VA limits should be released soon.
If you are in the Los Angeles area, have any questions or real estate sales or financing needs, feel free in contacting me
Ron Henderson GRI, RECS, CIAS
President/Broker
Multi Real Estate Services, Inc.
Gov’t Affairs Chair – California Association of Mortgage Professionals (2017-2018)
Chairman – OutWest Marketing Meeting (Real Estate Education)
BRE #00905793 NMLS #310358
www.mres.com
ronh@mres.com
Specialist in the Art of Real Estate Sales and Finance
Real Estate market, mortgage rates, Los Angeles, San Fernando Valley, Conejo Valley, Simi Valley, Woodland Hills, West Hills, Calabasas, Chatsworth
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