Announcement 19-0089: Maximum Loan Limits for 2020 – Conventional Products

December 3, 2019

Overview

The Federal Housing Finance Agency (FHFA) has issued the following maximum first mortgage loan limits that will apply to conventional loans for acquisition by Fannie Mae / Freddie Mac with a note date on and after January 1, 2020.

2020 Conventional Loan Limits
Units	Conforming Amount - Contiguous States and District of Columbia	Conforming Amount - Alaska and Hawaii
One	$510,400	$765,600
Two	$653,550	$980,325
Three	$789,950	$1,184,925
Four	$981,700	$1,472,550

The Carrington Pricing Engine has been updated to price and lock loans with the new higher conventional loan limits. To take advantage of the higher limits, CMS must fund and sell the loans to Fannie Mae/Freddie Mac on and after January 1, 2020 and loans will be conditioned so they cannot close until January 1, 2020 or after.

Please note: the 2020 loan limits for FHA Loans and VA Loans will be communicated in the near future once the Agencies make an announcement.

Contacts

Please contact CorrespondentRM@carringtonms.com with any questions.

Carrington thanks you for your business.

LOANS MUST BE LOCKED IN MARCH!

Contact your Account Executive with questions.

Government Agency Approvals

FHA Non-Supervised Mortgagee Approval #:
24751-0000-5

VA Automatic Lender Approval #:
902324-00-00

Mortgagee/Loss Payee Clause

Carrington Mortgage Services LLC
ISAOA/ATIMA
P.O. Box 692408
San Antonio, TX 78269-2408

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This information is provided for your convenience and Carrington Mortgage Services, LLC makes no warranties concerning the accuracy or completeness of any of the information. This is not financial or legal advice and should not be taken as such. This information is for mortgage professionals only and is not intended for distribution to consumers.

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Government Agency Approval | FHA Non-Supervised Mortgage Approval #: 24751-0000-5 | VA Automatic Lender Approval #: 902324-00-00