- December 3, 2020
- Posted by: Amanda Lenzie
- Category: Marketing Tools
Good news! The Federal Housing Administration just announced the base loan amount for 2021 has increased to $356,362 (previously set at $331,760). Some counties in high-cost areas have higher limits – CLICK HERE to look up FHA limits by county.
Remember: these limits become effective for applications taken on or after January 1, 2021.
What does this mean? More properties will be eligible for FHA financing, which will help borrowers who need a lower down payment or have less-than-perfect credit.