Conventional Loan Limits 2021: Full Details Updated

Conventional loan limits 2021

A Conventional loan could fit you like a glove if you’re buying a more expensive home and need to borrow more than the conforming loan limits allow. So, if you’re looking at an upscale property or simply one in an area of the country where the cost of living is high, here’s what you need to know about the Conventional loan limits in 2021.

Do you Know?

What is a Conventional loan?

A conventional loan is a mortgage loan that’s not backed by a government agency. Conventional loans are broken down into “conforming” and “non-conforming” loans. However, some lenders may offer some flexibility with non-conforming conventional loans.

Is Conventional Loan Good?

Is a conventional loan good? A conventional loan is a great option if you have a solid credit score and little debt. You can avoid PMI by paying 20% of the loan upfront, which will lower your mortgage payments. If you’re unable to make a large payment upfront, conventional loans are available with a down payment as low as 3%.

Mortgages aren’t one-size-fits-all and jumbo loans are no exception. Essentially, a jumbo loan is a mortgage that exceeds baseline amounts set by Federal National Mortgage Association (Fannie Mae) and Federal Home Loan Mortgage Corporation (Freddie Mac) guidelines. Since jumbo loans do not have upper limits established by the agencies mentioned, it’s up to your lender to determine the ceiling amount for jumbo loan limits, and whether it enforces it or not.

AlaskaAll counties$822,375
CaliforniaSolano County$550,850
CaliforniaEl Dorado County, Placer County, Sacramento County, Yolo County$598,000
CaliforniaSanta Barbara County$660,100
CaliforniaSan Luis Obispo County$701,500
CaliforniaSonoma County$707,250
CaliforniaMonterey County, Ventura County$739,450
CaliforniaSan Diego County$753,250
CaliforniaNapa County$816,500
CaliforniaAlameda County, Contra Costa County, Los Angeles County, Marin County, Orange County, San Benito County, San Francisco County, San Mateo County, Santa Clara County, Santa Cruz County$822,375
ColoradoAdams County, Arapahoe County, Broomfield County, Clear Creek County, Denver County, Douglas County, Elbert County, Gilpin County, Jefferson County, Park County$596,850
ColoradoLake County$625,500
ColoradoSan Miguel County$649,750
ColoradoBoulder County$654,350
ColoradoRoutt County$678,500
ColoradoGarfield County, Pitkin County$765,600
ColoradoEagle County$822,250
ColoradoSummit County$822,235
ConnecticutFairfield County$601,450
FloridaMonroe County$608,350
HawaiiHawaii County, Honolulu County, Kalawao County, Kauai County, Maui County$822,375
IdahoBlaine County, Camas County, Lincoln County$625,500
IdahoTeton County$822,375
MarylandCalvert County, Charles County, Frederick County, Montgomery County, Prince George’s County$822,375
MassachusettsEssex County, Middlesex County, Norfolk County, Plymouth County, Suffolk County$724,500
MassachusettsDukes County, Nantucket County$822,375
New HampshireRockingham County, Strafford County$724,500
New JerseyBergen County, Essex County, Hudson County, Hunterdon County, Middlesex County, Monmouth County, Morris County, Ocean County, Passaic County, Somerset County, Sussex County, Union County$822,375
New YorkDutchess County, Orange County$726,525
New YorkBronx County, Kings County, Nassau County, New York County, Putnam County, Queens County, Richmond County, Rockland County, Suffolk County, Westchester County$822,375
North CarolinaCamden County, Pasquotank County, Perquimans County$625,500
PennsylvaniaPike County$822,375
TennesseeCannon County, Cheatham County, Davidson County, Dickson County, Macon County, Maury County, Robertson County, Rutherford County, Smith County, Sumner County, Trousdale County, Williamson County, Wilson County$586,500
U.S. Virgin IslandsSt. Croix Island, St. John Island, St. Thomas Island$822,375
UtahSalt Lake County, Tooele County$600,300
UtahBox Elder County, Davis County, Morgan County, Weber County$646,300
UtahSummit County, Wasatch County$817,650
VirginiaAlexandria City, Arlington County, Clarke County, Culpeper County, Fairfax City, Fairfax County, Falls Church City, Fauquier County, Fredericksburg City, Loudoun County, Madison County, Manassas City, Manassas Park City, Prince William County, Rappahannock County, Spotsylvania County, Stafford County, Warren County$822,375
WashingtonKing County, Pierce County, Snohomish County$776,250
Washington D.C.District of Columbia$822,375
West VirginiaJefferson County$822,375
WyomingFairfield County$822,375

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