The Federal Housing Financing Agency (FHFA) recently updated the conforming loan amount limits for all counties in the United States. The new max loan amount for standard conforming loans is now $548,250 and the max loan amount for High Balance/High Cost areas is now $822,375.
LoanStream will start accepting the updated loan amount and locks beginning 12/1/2020, with an Accept or Approve Ineligible AUS decision, as long as it is Ineligible for loan amount only. See below table:
Standard Conforming:
| Units | Contiguous States & District of Columbia | Alaska, Hawaii | |||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
1 |
$548,250 |
$822,375 |
|||||||||||||||||||
|
2 |
$702,000 |
$1,053,000 |
|||||||||||||||||||
|
3 |
$848,500 |
$1,272,750 |
|||||||||||||||||||
|
4 |
$1,054,500 |
$1,581,750 |
|||||||||||||||||||
High-Cost Areas:
| Units | Contiguous States & District of Columbia | Alaska, Hawaii | |||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
1 |
$822,375 |
Not Applicable |
|||||||||||||||||||
|
2 |
$1,053,00 |
Not Applicable |
|||||||||||||||||||
|
3 |
$1,272,750 |
Not Applicable |
|||||||||||||||||||
|
4 |
$1,581,750 |
Not Applicable |
|||||||||||||||||||
Notes:
Please inquire with your manager should you have any questions.
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