Author Topic: Increased loan limits for 2021  (Read 591 times)

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Offline Cares

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Re: Increased loan limits for 2021
« Reply #2 on: November 24, 2020, 01:20:51 PM »
Standard Conforming is the same across the United States. High Balance Conforming AKA Jumbo Conforming is not a single blanket amount for California. Limits are set County by County. San Diego, Riverside, San Bernardino are all less than LA / OC for Jumbo Conforming.

United States Standard Conforming: $548,250 1 Unit. $702,000 2 Unit, $848,500 3 Unit, and $1,054,500 - 4 Unit.

1 Unit High Balance, by Southern California County.

LA High Balance Conforming - $822,375
OC High Balance Conforming - $822,375
SD High Balance Conforming - $753,250
SB-RIV High Balance Conforming - $548,250 (No High Balance)
Ventura High Balance Conforming - $739,450



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« Last Edit: November 24, 2020, 02:15:07 PM by Soylent Green Is People »
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Re: Increased loan limits for 2021
« Reply #3 on: November 24, 2020, 04:54:55 PM »
Sweet now I can refi my home with a jumbo conforming loan without having to pay down the balance.
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Re: Increased loan limits for 2021
« Reply #4 on: November 24, 2020, 05:18:01 PM »
Agency AUS programs will be updated with new loan limits mid December. It's possible to apply for a loan under these new limits, but AUS will likely show "ineligible". Best really to wait until the first week of December as with any changes in limits it takes some time for lenders to clarify rules about underwriting, closing, servicing, etc.

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Offline Cares

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Re: Increased loan limits for 2021
« Reply #5 on: November 24, 2020, 07:49:40 PM »
I have a couple of lenders that can begin locking with new loan limits but your loan cannot close until 2021.

Offline nguyener

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Re: Increased loan limits for 2021
« Reply #6 on: November 26, 2020, 08:34:44 AM »
FHFA increases maximum conforming loan limit.

To find out the loan limit in your specific county:
https://www.fhfa.gov/DataTools/Downloads/Documents/Conforming-Loan-Limits/FullCountyLoanLimitList2021_HERA-BASED_FINAL_FLAT.xlsx

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