2021 Mortgage Loan Limits

Every year, the Federal Housing Finance Agency (FHFA) sets a dollar cap on conventional mortgages that Freddie Mac or Fannie Mae are allowed to back, commonly referred to as a conforming loan limit. In 2020, the conforming loan limit for a single-family home was $510,400. This year, the conforming loan limit for a single-family home increased to $548,250, nearly 7.6% higher!

This means Freddie Mac or Fannie Mae can purchase conventional loans valued at or under the conforming loan limit from mortgage lenders.

In most areas, the maximum conforming loan limits are as follows:

Single-family property         $548,250

Duplex                                   $702,000

Triplex                                    $848,500

Four Plex                               $1,054,500

Anything larger than 4 units is considered a commercial loan which doesn’t qualify a residential conforming loan.

But if you live in a high cost area, the conforming loan limit may be higher. These loans are called conforming “high balance” loans and can come at a slightly higher interest-rate.

Those limits for conforming “high balance” loans are:

Single-family property         $548,251 – $822,375

Duplex                                   $702,001 – $1,053,000

Triplex                                    $848,501 – $1,272,750

Four Plex                               $1,054,501 – $1,581,750.

Any mortgage amount that is higher than the loan limits outlined above is considered a jumbo loan and subject to different requirements, may have a higher interest-rate, and generally is considered as a different type of loan.

Check out how conforming loan limits for single family homes have changed throughout the years, dating all the way back to my first year in the business, 1986!

Year	Loan Limit
2021	$548,250
2020	$510,400
2019	$484,350
2018	$453,100
2017	$424,100
2016	$417,000
2015	$417,000
2014	$417,000
2013	$417,000
2012	$417,000
2011	$417,000
2010	$417,000
2009	$417,000
2008	$417,000
2007	$417,000
2006	$417,000
2005	$359,650
2004	$333,700
2003	$322,700
2002	$300,700
2001	$275,000
2000	$252,700
1999	$240,000
1998	$227,150
1997	$214,600
1996	$207,000
1995	$203,150
1994	$203,150
1993	$203,150
1992	$202,300
1991	$191,250
1990	$187,450
1989	$187,600
1988	$168,700
1987	$153,100
1986	$133,250

Mortgage guidelines can change at any time, so always talk to an experienced mortgage loan officer who will help you understand the current guidelines and how they might apply to you.