New Conforming Home Mortgage Loan Limits For 2021 Announced
The Federal Housing Finance Agency announced this week that the new loan limit for conforming Fannie Mae home mortgage loans in Georgia and most other parts of the US will rise over 7 percent to $548,250 in 2021. In more expensive housing markets including metro New York and parts of California, the new limit will be up to $822,375. Georgia home mortgage loans above $548,250 in 2021 will be considered jumbo mortgages, which often come with higher closing costs and interest rates.
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