Each year in October, the Federal Housing Finance Agency, or FHFA, collects data on the national median home value and compares that number to October of the previous year. If there is an increase, the conforming loan limit will increase by the same amount.

In October 2019, the year-over-year median home value increase was 5.38%. Therefore, the conforming loan limit for a single-family home in 2020 will rise to $510,400, up from $484,350. The loan limits on multi-unit properties will rise to $653,550, $789,950 and $981,700 for a duplex, triplex, and fourplex, respectively.

Loan amounts that are above Conforming loan limit  (Single-family home $510,400) are referred to as JUMBO LOANS. There are stronger requirements to get a jumbo loan starting for a higher credit score.  Down payment requirements for jumbo loans are also much higher. A buyer can secure a conforming loan with a down payment of just 5% (or even 3% for special first-time programs) with the help of private mortgage insurance. Jumbo loans have no such insurance policies available and require a minimum down payment of 20% of the sale price of the home. Providing a down payment of 25% or more will make it easier to qualify.

The Federal Housing Administration (FHA) has also announced an increase in most areas of the U.S., including up to $331,760. The cap varies across counties. 

The FHA has also issued new mortgage rules that will qualify more condo projects for FHA loans.

To find an FHA-eligible condo in your area contact a real estate agent who can provide you with a list or go to 

Conditions are very positive for Buyers, not only long-term mortgage rates fell for the third straight week, with the average 30-year fixed-rate mortgage dropping to 3.45% from last week’s 3.51%.   30-year Mortgages Hit Lowest Point in 3 Years.  But lenders have  increased their loan amounts


Beatriz Rocha

U.S +1 786.970.8312