Pittsburgh, PA (December 1, 2020) – Howard Hanna Mortgage Services is pleased to announce that we are increasing our single-unit conforming loan limit to $548,250 beginning in January of 2021.
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 2020 was $510,400. The new limit for 2021 increased by 7.5% to $548,250 and marks the fifth consecutive year in which the loan limit has increased. 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, to $484,350 in 2019, and to $510,400 in 2020.
The higher loan limit will offer Howard Hanna Mortgage Services greater flexibility on mortgages up to $548,250 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. Howard Hanna Real Estate Services is not a mortgage lender. Offer of credit is subject to credit approval. Contact Howard Hanna Mortgage Services for mortgage products and eligibility. Howard Hanna Mortgage Services is licensed by: The Pennsylvania Department of Banking and Securities as a Mortgage Lender – License number 21415. The Ohio Department of Commerce – Division of Financial Institutions – License number RM.804531.000. The Michigan Department of Licensing and Regulatory Affairs, Office of Financial and Insurance Regulation, First Mortgage Broker/Lender License number FL0022570, Second Mortgage Lender Registration number SR0022571. The West Virginia Division of Banking – License number ML-20884. Howard Hanna Mortgage Services is registered to do business in Pennsylvania, Ohio, Michigan and West Virginia. 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.
