What's Hot: Whole Foods at Walter Reed to Open at End of June | Will This Be the DC Area's First $60 Million House?
Loan Limits to Rise in DC Area For 4th Straight Year
Shortly before Thanksgiving, the Federal Housing Finance Agency (FHFA) announced that it would increase mortgage loan limits for 2020. This will allow Fannie Mae and Freddie Mac to acquire mortgages of up to $510,400, up from $484,350 in 2019 for a single dwelling unit. This will be the fourth year in a row that the agency will raise limits.
For the immediate DC area, the loan limits will increase from $726,525 for a single dwelling unit to $765,600. The limit for a two-unit building is $980,325, and it is respectively $1,184,925 and $1,472,550 for three- and four-unit buildings.
story continues below
loading...story continues above
While Government Sponsored Enterprises (GSEs) like Fannie Mae and Freddie Mac guarantee a great deal of mortgages nationwide, often at lower costs and with more favorable lending terms, they are legally bound to only accept loans of a certain amount. The increased loan limits make GSE loan underwriting more accessible to a larger pool of homebuyers.
See other articles related to: conforming loan limits, loan limits
This article originally published at https://dc.urbanturf.com/articles/blog/loan-limits-to-rise-in-dc-area-for-4th-straight-year/16205.
Most Popular... This Week • Last 30 Days • Ever

A look at the larger residential developments in the works from Cardozo to Mount Vern... read »

The Heights, a ten-stall food hall that is taking over the spaces formerly occupied b... read »

A piece of legislation quietly introduced in the House of Representatives earlier thi... read »

Whole Foods announced yesterday that the 47,000 square foot store will open on June 2... read »

Developer EYA and the Washington Metropolitan Area Transit Authority will go before D... read »
- The 9 Developments and 1,250 Units in the Works For Shaw
- Friendship Heights Food Hall Could Open This Month
- Will This Proposed Bill Increase the Number of Homes For Sale?
- Whole Foods at Walter Reed to Open at End of June
- 435-Unit Development Planned For Takoma Metro Station Looks For Historic Approval
DC Real Estate Guides
Short guides to navigating the DC-area real estate market
We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Visit guides.urbanturf.com or start browsing below!
First-Timer Primers
Intro guides for first-time home buyers
Unique Spaces
Awesome and unusual real estate from across the DC Metro