The Federal Housing Finance Agency (FHFA) recently announced that 2020 conventional loan limits would be raised to $510,400 for single-family homes. This increase in conforming loan limits has gone up almost $100,000 since 2016. These limits may be exceeded if the property is located in a high-cost area.
“Conventional Loans” are defined as any mortgage that isn’t insured by a government agency. “Conforming Loans” are simply a conventional loan program that conforms to criteria set forth by ‘Fannie Mae‘, ‘Freddie Mac‘, and the FHFA, which is their regulator. These mortgage loan requirements and maximum loan limits are meant to manage the risk for both lenders and investors in the mortgage-backed securities issued by Fannie and Freddie.
2020 Conventional Loan Limits
The conventional conforming loan limit for single-family homes was recently raised to $510,400 for most areas across the country. In costly areas, high-balance conforming loan limits may be as high as $765,600. If a loan amount is too large to meet conforming loan limits, it’s considered a Jumbo Loan.
General Conventional Conforming Loan Limits
Conforming loan limits are set at $510,400 except in high-cost areas designated by the FHFA.
| Units | Continental U.S. and Puerto Rico | Alaska, Hawaii, Guam, U.S. VI |
|---|---|---|
| 1 | $510,400 | $765,600 |
| 2 | $653,550 | $980,325 |
| 3 | $789,950 | $1,184,925 |
| 4 | $981,700 | $1,472,550 |
Conventional Conforming Loan Limits for High-Cost Areas
C
onventional mortgages issued after October 1st, 2011 utilize “Permanent High-
Cost Limits” to determine the maximum limits for costly areas. These high-cost limits are figured by calculating 115% of the median home price of the area up to a maximum of 50% above the baseline limit. High-cost areas of the country with elevated conventional limits include New York City, San Francisco, Los Angeles, Washington D.C. and Boston.
| Units | Continental U.S. and Puerto Rico | Alaska, Hawaii, Guam and U.S. VI |
|---|---|---|
| 1 | $765,600 | $765,600 |
| 2 | $980,325 | $980,325 |
| 3 | $1,184,925 | $1,184,925 |
| 4 | $1,472,550 | $1,472,550 |
Historical Conventional Loan Limits
Conventional loan limits have come a long way since 1980. Historically, maximum loan limits have been evaluated and adjusted on a yearly basis by Fannie Mae and Freddie Mac, then more recently by the FHFA.
| Year | 1-Unit | 2-Unit | 3-Unit | 4-Unit |
|---|---|---|---|---|
| 2020 | $510,400 | $653,550 | $789,950 | $981,700 |
| 2019 | $484,350 | $620,200 | $749,650 | $931,600 |
| 2018 | $453,100 | $580,150 | $701,250 | $871,450 |
| 2017 | $424,100 | $543,000 | $656,350 | $815,650 |
| 2016 | $417,000 | $533,850 | $645,300 | $801,950 |
| 2015 | $417,000 | $533,850 | $645,300 | $801,950 |
| 2014 | $417,000 | $533,850 | $645,300 | $801,950 |
| 2013 | $417,000 | $533,850 | $645,300 | $801,950 |
| 2012 | $417,000 | $533,850 | $645,300 | $801,950 |
| 2011 | $417,000 | $533,850 | $645,300 | $801,950 |
| 2010 | $417,000 | $533,850 | $645,300 | $801,950 |
| 2009 | $417,000 | $533,850 | $645,300 | $801,950 |
| 2008 | $417,000 | $533,850 | $645,300 | $801,950 |
| 2007 | $417,000 | $533,850 | $645,300 | $801,950 |
| 2006 | $417,000 | $533,850 | $645,300 | $801,950 |
| 2005 | $359,650 | $460,400 | $556,500 | $691,600 |
| 2004 | $333,700 | $427,150 | $516,300 | $641,650 |
| 2003 | $322,700 | $413,100 | $499,300 | $620,500 |
| 2002 | $300,700 | $384,900 | $465,200 | $578,150 |
| 2001 | $275,000 | $351,950 | $425,400 | $528,700 |
| 2000 | $252,700 | $323,400 | $390,900 | $485,800 |
| 1999 | $240,000 | $307,100 | $371,200 | $461,350 |
| 1998 | $227,150 | $290,650 | $351,300 | $436,600 |
| 1997 | $214,600 | $274,550 | $331,850 | $412,450 |
| 1996 | $207,000 | $264,750 | $320,050 | $397,800 |
| 1995 | $203,150 | $259,850 | $314,100 | $390,400 |
| 1994 | $203,150 | $259,850 | $314,100 | $390,400 |
| 1993 | $203,150 | $259,850 | $314,100 | $390,400 |
| 1992 | $202,300 | $258,800 | $312,800 | $388,800 |
| 1991 | $191,250 | $244,650 | $295,650 | $367,500 |
| 1990 | $187,450 | $239,750 | $289,750 | $360,150 |
| 1989 | $187,600 | $239,950 | $290,000 | $360,450 |
| 1988 | $168,700 | $215,800 | $260,800 | $324,150 |
| 1987 | $153,100 | $195,850 | $236,650 | $294,150 |
| 1986 | $133,250 | $170,450 | $205,950 | $256,000 |
| 1985 | $115,300 | $147,500 | $178,200 | $221,500 |
| 1984 | $114,000 | $145,800 | $176,100 | $218,900 |
| 1983 | $108,300 | $138,500 | $167,200 | $207,900 |
| 1982 | $107,000 | $136,800 | $165,100 | $205,300 |
| 1981 | $98,500 | $126,000 | $152,000 | $189,000 |
| 1980 | $93,750 | $120,000 | $145,000 | $180,000 |
Conforming Loan Limits are subject to change.
Conventional Loan Limits By State
Alabama Conforming Loan Limits
(Conventional conforming mortgage loans are available across the state of AL including these cities and towns: Gulf Shores, Tuscaloosa, Mobile, Auburn, Orange Beach, Decatur, Dothan, Birmingham, Montgomery, Hoover, Madison City and more…)
Alaska Conforming Loan Limits
(Conventional conforming mortgage loans are available across the state of AK including these cities and towns: Juneau, Anchorage, Ketchikan, Sitka, Fairbanks and more…)
Arizona Conforming Loan Limits
(Conventional conforming mortgage loans are available across the state of AZ including these cities and towns: Avondale, Goodyear, Peoria, Tempe, Yuma, Glendale, Phoenix, Flagstaff, Lake Havasu City, Chandler, Surprise, Mesa, Scottsdale, Gilbert, Tucson and more…)
Arkansas Conforming Loan Limits
(Conventional conforming mortgage loans are available across the state of AR including these cities and towns: Little Rock, Pine Bluff, North Little Rock, Jonesboro, Conway, Hot Springs, Fort Smith, Rogers, Fayetteville, Springdale and more…)
California Conforming Loan Limits
(Conventional conforming mortgage loans are available across the state of CA including these cities and towns: San Marcos, Antioch, Fresno, Redding, Murrieta, Citrus Heights, Stockton, Mission Viejo, Buena Park, Concord, West Covina, Corona, El Cajon, Santa Maria, Inglewood, Roseville, Modesto, Anaheim, Burbank, Pomona, Palmdale, San Leandro, Thousand Oaks, Daly City, Hemet, Vallejo, San Mateo, Santa Rosa, Santa Barbara, Long Beach, Pasadena, Hesperia, Fontana, Chino, Merced, Carson, Westminster, Lake Forrest, South Gate, Hawthorne, Chico, El Monte, Oakland, Carlsbad, Oceanside, Fullerton, Tracy, Huntington Beach, Oxnard, Whittier, Los Angeles, Temecula, Newport Beach, Lancaster, Bakersfield, Hayward, Alhambra, Costa Mesa, Visalia, Berkley, Vista, Escondido, Victorville, Sacramento, Irvine, Rancho Cucamonga, Richmond, Fairfield, Riverside, Livermore, Glendale, Santa Clarita, Downey, Simi Valley, Santa Monica, Salinas, Lakewood, Vacaville, Rialto, San Francisco, Torrance, Ontario, San Jose, Elk Grove, San Diego, Santa Ana, Compton, Menifee, Norwalk, Garden Grove, Santa Clara, San Bernardino, Fremont, Sunnyvale, Napa, Orange, Chula Vista, Moreno Valley, Clovis and more…)
Colorado Conforming Loan Limits
(Conventional conforming mortgage loans are available across the state of CO including these cities and towns: Centennial, Pueblo, Grand Junction, Northglenn, Boulder, Westminster, Greely, Lakewood, Parker, Littleton, Colorado Springs, Commerce City, Brighton, Thornton, Longmont, Castle Rock, Arvada, Fort Collins, Loveland, Aurora, Denver, Broomfield and more…)
Connecticut Conforming Loan Limits
(Conventional conforming mortgage loans are available across the state of CT including these cities and towns: Bristol, Danbury, West Hartford, Stamford, Milford, Bridgeport, Greenwich, New Britain, Hartford, Norwalk, Stratford, Waterbury, Hamden, New Haven, Manchester, Meriden, West Haven, Fairfield and more…)
Delaware Conforming Loan Limits
(Conventional conforming mortgage loans are available across the state of DE including these cities and towns: Newark, Dover, Smyrna, Wilmington, Middletown and more…)
District of Columbia Conforming Loan Limit
(Washington D.C.)
Florida Conforming Loan Limits
(Conventional conforming mortgage loans are available across the state of FL including these cities and towns: Marathon, Sebastian, Kissimmee, Jacksonville, Palm Bay, The Villages, Florida Ridge, Titusville, Clearwater, Tallahassee, Port Charlotte, Lady Lake, Fort Walton Beach, Fort Lauderdale, Palm Coast, Port Orange, Ocala, Bradenton, Deltona, Citrus Springs, Orlando, Avon Park, Pompano Beach, Miami, Fort Myers, St. Petersburg, Panama City, Lakeland, Beverly Hills, Key West, Eustis, Vero Beach South, Melbourne, Port St. Lucie, Leesburg, Sarasota, St. Augustine, Homosassa Springs, Bonita Springs, Spring Hill, Navarre, Sebring, Zephyrhills, Tavares, Key Biscayne, Winter Haven, Pensacola, Tampa, West Palm Beach, Daytona Beach, Cape Coral, Gainesville and more…)
Georgia Conforming Loan Limits
(Conventional conforming mortgage loans are available across the state of GA including these cities and towns: Macon, Savannah, Roswell, Athens, Valdosta, Smyrna, Alpharetta, Marietta, Johns Creek, Columbus, Warner Robins, Albany, Augusta, Atlanta, Sandy Springs and more…)
Hawaii Conforming Loan Limits
(Conventional conforming mortgage loans are available across the state of HI include Kahului, Hilo, Milani Town, Kailua, Waipahu, Honolulu, Pearl City, Kaneohe and more…)
Idaho Conforming Loan Limits
(Conventional conforming mortgage loans are available across the state of ID including these cities and towns: Meridian, Gooding, Boise, Idaho Falls, Lewiston, Shoshone, Pocatello, Coeur d’Alene, Nampa, Twin Falls, Ketchum, Caldwell and more…)
Illinois Conforming Loan Limits
(Conventional conforming mortgage loans are available across the state of IL including these cities and towns: Naperville, Hoffman Estates, Aurora, Oak Park, Oak Lawn, Chicago, Orland Park, Mount Prospect, Elgin, Evanston, Waukegan, Normal, Arlington Heights, Skokie, Springfield, Bolingbrook, Palatine, Champaign, Berwyn, Decatur, Downers Grove, Wheaton, Bloomington, Joliet, Des Plaines, Tinley Park, Peoria, Rockford, Cicero, Schaumburg and more…)
Indiana Conforming Loan Limits
(Conventional conforming mortgage loans are available across the state of IN including these cities and towns: Kokomo, Greenwood, Gary, Elkhart, Lawrence, Carmel, Muncie, Bloomington, Fort Wayne, South Bend, Indianapolis, Noblesville, Mishawaka, Terre Haute, Hammond, Anderson, Lafayette, Evansville and more…)
Iowa Conforming Loan Limits
(Conventional conforming mortgage loans are available across the state of IA including these cities and towns: Urbandale, Iowa City, Cedar Rapids, Davenport, West Des Moines, Ankeny, Dubuque, Des Moines, Ames, Council Bluffs, Waterloo, Sioux City and more…)
Kansas Conforming Loan Limits
(Conventional conforming mortgage loans are available across the state of KS including these cities and towns: Lenexa, Wichita, Lawrence, Manhattan, Kansas City, Topeka, Salina, Shawnee, Hutchinson Olathe, Overland Park and more…)
Kentucky Conforming Loan Limits
(Conventional conforming mortgage loans are available across the state of KY including these cities and towns: Richmond, Bowling Green, Covington, Hopkinsville, Florence, Louisville, Lexington, Owensboro and more…)
Louisiana Conforming Loan Limits
(Conventional conforming mortgage loans are available across the state of LA including these cities and towns: Lake Charles, Alexandria, Houma, Bossier City, Monroe,, Shreveport, Lafayette, Kenner, New Orleans, Baton Rouge, Metairie and more…)
Maine Conforming Loan Limits
(Conventional conforming mortgage loans are available across the state of ME including these cities and towns: Auburn, Bangor, Lewiston, Portland and more…)
Maryland Conforming Loan Limits
(Conventional conforming mortgage loans are available across the state of MD including these cities and towns: Hagerstown, Baltimore, College Park, Laurel, Gaithersburg, Frederick, Bowie, Annapolis, Salisbury, Rockville and more…)
Massachusetts Conforming Loan Limits
(Conventional conforming mortgage loans are available across the state of MA including these cities and towns: Weymouth, Waltham, Chicopee, Worcester, Haverhill, Peabody, Revere, Brockton, Revere, Malden, Weymouth, Weymouth, Quincy, Peabody,, Somerville, Fall River, Boston, Lowell, Peabody, Framingham, Chicopee, Lynn, Newton, Lawrence, Revere, Springfield, New Bedford, Cambridge, Chicopee and more…)
Michigan Conforming Loan Limits
(Conventional conforming mortgage loans are available across the state of MI including these cities and towns: Troy, Canton, Southfield, Dearborn, Ann Arbor, Lansing, Farmington Hills, West Bloomfield, Ypsilanti, Macomb, St. Clair Shores, Battle Creek, Pontiac, Warren, Detroit, Novi, Flint, Saginaw, Wyoming, Waterford, Dearborn Heights,, Grand Rapids, Kalamazoo, Westland, Royal Oak, Rochester Hills, Livonia, Kentwood, Shelby, Taylor, Clinton, Sterling Heights and more…)
Minnesota Conforming Loan Limits
(Conventional conforming mortgage loans are available across the state of MN including these cities and towns: Coon Rapids, Saint Paul, Lakeville, Woodbury, Rochester, Blaine, Minnetonka, Burnsville, Eden Prairie, Edina, St. Cloud, Duluth, Bloomington, Maple Grove, Brooklyn Park, Eagan, Minneapolis, Apple Valley, Plymouth and more…)
Mississippi Conforming Loan Limits
(Conventional conforming mortgage loans are available across the state of MS including these cities and towns: Tupelo, Hattiesburg, Gulfport, Southhaven, Meridian, Jackson, Biloxi and more…)
Missouri Conforming Loan Limits
(Conventional conforming mortgage loans are available across the state of MO including these cities and towns: Lee’s Summit, Columbia, Independence, Joplin, Springfield, Jefferson City, St. Louis, St. Charles, Chesterfield, St. Joseph, St, O’Fallon, Florissant, Peters, Blue Springs, Kansas City and more…)
Montana Conforming Loan Limits
(Conventional conforming mortgage loans are available across the state of MT including these cities and towns: Missoula, Helena, Billings, Bozeman, Great Falls, Butte and more…)
Nebraska Conforming Loan Limits
(Conventional conforming mortgage loans are available across the state of NE including these cities and towns: Bellevue, Lincoln,, Omaha, Kearney, Grand Island, Fremont and more…)
Nevada Conforming Loan Limits
(Conventional conforming mortgage loans are available across the state of NV including these cities and towns: Sparks, Las Vegas, Fernley,, Carson City, Henderson, Reno, North Las Vegas and more…)
New Hampshire Conforming Loan Limits
(Conventional conforming mortgage loans are available across the state of NH including these cities and towns: Rochester, Manchester, Dover, Concord, Nashua and more…)
New Jersey Conforming Loan Limits
(Conventional conforming mortgage loans are available across the state of NJ including these cities and towns: East Orange, Union, Vineland, Franklin, Irvington, Brick Township, Passaic, Perth Amboy, Lakewood Township, New Brunswick, Edison, Camden, Union City, Jackson Township, Woodbridge Township, Middletown Township, Clifton, Piscataway, Troy Hills, Hamilton, Cherry Hill, Toms River, Old Bridge Township, Jersey City, Trenton, Gloucester Township, Parsippany, Plainfield, North Bergen, Paterson, Newark, Bayonne, Elizabeth, Wayne, Hoboken, Howell Township and more…)
New Mexico Conforming Loan Limits
(Conventional conforming mortgage loans are available across the state of NM including these cities and towns: Santa Fe, Rio Rancho, Las Cruces, Albuquerque, Clovis, South Valley, Hobbs, Farmington, Roswell and more)
New York Conforming Loan Limits
(Conventional conforming mortgage loans are available across the state of NY including these cities and towns: Niagara Falls, Staten Island, Yonkers, Queens, Manhattan, Bronx, Schenectady, Utica, New Rochelle, Syracuse, Binghamton, Rochester, Mount Vernon, Albany, New York City, Troy, White Plains, Brooklyn, Buffalo and more…)
North Carolina Conforming Loan Limits
(Conventional conforming mortgage loans are available across the state of NC including these cities and towns: Raleigh, Rocky Mount, Charlotte, Gastonia, Asheville, Wilson, Concord, Greensboro, Burlington, Winston-Salem, Cary, High Point, Jacksonville, Durham, Huntersville, Greenville, Chapel Hill, Fayetteville, Kannapolis, Wilmington and more…)
North Dakota Conforming Loan Limits
(Conventional conforming mortgage loans are available across the state of ND including these cities and towns: Grand Forks, Fargo, West Fargo, Dickinson, Bismark, Minot and more…)
Ohio Conforming Loan Limits
(Conventional conforming mortgage loans are available across the state of OH including these cities and towns: Parma, Falls, Youngstown, Canton, Springfield, Hamilton, Toledo, Kettering, Cuyahoga, Akron, Alliance, Cleveland, Cincinnati, Columbus, Elyria and more…)
Oklahoma Conforming Loan Limits
(Conventional conforming mortgage loans are available across the state of OK including these cities and towns: Stillwater, Shawnee, Norman, Edmond, Tulsa, Moore, Lawton, Midwest City, Broken Arrow, Enid, Owasso, Muskogee, Bartlesville, Oklahoma City and more…)
Oregon Conforming Loan Limits
(Conventional conforming mortgage loans are available across the state of OR including these cities and towns: Portland, Bend, Hillsboro, Gresham, Tigard, Springfield, Beaverton, Salem, Albany, Medford, Eugene, Corvallis and more…)
Pennsylvania Conforming Loan Limits
(Conventional conforming mortgage loans are available across the state of PA including these cities and towns: Levittown, Wilkes-Barre, Penn Hills, Lancaster, Philadelphia, Erie, Reading, York, Altoona, Bethlehem, Scranton, Pittsburgh, Harrisburg, Allentown and more…)
Rhode Island Conforming Loan Limits
(Conventional conforming mortgage loans are available across the state of RI including these cities and towns: East Providence, Warwick, Cranston, Woonsocket, Providence, Coventry, Pawtucket and more…)
South Carolina Conforming Loan Limits
(Conventional conforming mortgage loans are available across the state of SC including these cities and towns: Rock Hill, Mount Pleasant, Summerville, Sumter, Columbia, Greenville, Spartanburg, Hilton Head Island, Charleston, North Charleston and more)
South Dakota Conforming Loan Limits
(Conventional conforming mortgage loans are available across the state of SD including these cities and towns: Aberdeen, Rapid City, Mithchell, Watertown, Sioux Falls, Brookings and more…)
Tennessee Conforming Loan Limits
(Conventional conforming mortgage loans are available across the state of TN including these cities and towns: Nashville, Collierville, Columbia, Hendersonville, Franklin, Memphis, Knoxville, Johnson City, Germantown, Clarksville, Chattanooga, Murfreesboro, Bartlett, Kingsport, Cleveland, Jackson and more…)
Texas Conforming Loan Limits
(Conventional conforming mortgage loans are available across the state of TX including these cities and towns: North Richland Hills, Carrollton, League City, Tyler, Mesquite, San Marcos, Dallas, Pasadena, Euless, Round Rock, Richardson, Denton, College Station, Flower Mound, Temple, Atascocita, Frisco, San Antonio, Pearland, Waco, Sugar Land, Edinburg, Allen, Spring, Killeen, Pharr, Georgetown, San Angelo, Lubbock, Fort Worth, Plano, Austin, Midland, Bryan, Mansfield, Lewisville, The Woodlands, Houston, Abilene, McAllen, Wichita Falls, Pflugerville, El Paso, Cedar Park, Beaumont, Amarillo, Garland, Harlingen, Grand Prairie, Arlington, DeSoto, Brownsville, Longview, Laredo, Odessa, New Braunfels, Missouri City, Irving, Mission, McKinney, Port Arthur, Baytown, Victoria, Rowlett, Conroe, Corpus Christi and more…)
Utah Conforming Loan Limits
(Conventional conforming mortgage loans are available across the state of UT including these cities and towns: Provo, Salt Lake City, Ogden, Sandy, West Jordan, West Valley City, Lehi, Taylorsville, St. George, Orem, Layton, Logan, South Jordan and more…)
Vermont Conforming Loan Limits
(Conventional conforming mortgage loans are available across the state of VT including these cities and towns: Rutland, South Burlington,, Barre, Burlington and more…)
Virginia Conforming Loan Limits
(Conventional conforming mortgage loans are available across the state of VA including these cities and towns: Richmond, Harrisonburg, Virginia Beach, Lynchburg, Danville, Hampton, Newport News, Alexandria, Charlottesville, Manassas, Roanoke, Portsmouth, Chesapeake, Norfolk, Suffolk and more…)
Washington Conforming Loan Limits
(Conventional conforming mortgage loans are available across the state of WA including these cities and towns: Everett, Renton, Lacey, Shoreline, Kent, Redmond, Richland, Edmonds, Tacoma, Pasco, Marysville, Olympia, Spokane, Vancouver, Bellingham, Federal Way, Lakewood, Yakima, Bellevue, Spokane Valley,, Kirkland, Seattle, Auburn, Kennewick, Burien, Sammamish and more…)
West Virginia Conforming Loan Limits
(Conventional conforming mortgage loans are available across the state of WV including these cities and towns: Charleston, Morgantown, Wheeling, Parkersburg, Huntington and more…)
Wisconsin Conforming Loan Limits
(Conventional conforming mortgage loans are available across the state of WI including these cities and towns: Kenosha, Milwaukee, Green Bay, Sheboygan, Eau Claire, West Allis, Oshkosh,, Janesville, Madison, Wauwatosa, Waukesha, La Crosse, Fond du Lac, Appleton, Racine and more…)
Wyoming Conforming Loan Limits
(Conventional conforming mortgage loans are available across the state of WY including these cities and towns: Laramie, Cody, Rock Springs, Cheyenne, Casper, Gilette, Sheridan and more…)
