The FHFA has announced the new conforming loan limits for loans purchased by Fannie Mae® and Freddie Mac on or after January 1, 2021.
The base limit will increase to $548,250 and the high balance ceiling will increase to $822,375.
Plaza is accepting the new loan limits for new conventional conforming and high balance locks effective immediately and BREEZE will be updated with the new loan limits for
on-line locks beginning Wednesday, November 25. Loans locked under the new limits may be closed/funded prior to January 1, 2021.
Note that these new limits impact conventional loans only. Government program loan limit changes will be announced in the future.
If you have questions, contact your Plaza Account Executive or email us at hereforyou@plazahomemortgage.com.