Howard Hanna Mortgage To Increase 2020 Conforming Loan Limits per FHFA Announcement

Pittsburgh, PA (December 3, 2019) – Howard Hanna Mortgage Services is pleased to announce that we are increasing our single-unit conforming loan limit to $510,400 beginning in January of 2020. Conforming loan limits are set by the Federal Housing Finance Agency (FHFA) each year and establish the limit to which the Federal National Mortgage Association (FNMA) and the Federal Home Loan Mortgage Corporation (FHLMC) can guarantee loans. For comparison purposes, the limit in 2019 was $484,350. The new limit for 2020 increased by $26,050 to be $510,400. From 2006 to 2016 the limit remained steady at $417,000. In 2017, the loan limit began a new pattern of steadily increasing each year from $424,100 in 2017 to $453,100 in 2018, and to $484,350 in 2019.

The higher loan limit will offer Howard Hanna Mortgage Services greater flexibility on mortgages up to $510,400 and opens a wider spectrum of possibilities for an increased number of borrowers and their mortgage financing.

To learn more, contact a Howard Hanna Mortgage Loan Originator today!

 

 

NMLS: 101561 & 203917. Howard Hanna Real Estate Services is not a mortgage lender. Contact Howard Hanna Mortgage Services for mortgage products & eligibility. Offer of credit is subject to credit approval. Howard Hanna Mortgage Services is licensed by: The Pennsylvania Department of Banking and Securities. The Ohio Department of Commerce – Division of Financial Institutions. The Michigan Department of Licensing and Regulatory Affairs, Office of Financial and Insurance Regulation. Contact a Howard Hanna Mortgage Loan Originator for full details.  PA (800) 474-4437, 1000 Gamma Drive – Pittsburgh, PA 15238. OH and MI – (800) 589-1118, 6000 Parkland Blvd. – Mayfield Hts., OH 44124. mortgage@howardhanna.com

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