Tips & Tools

What 2020 Loan Limits Mean for Your Clients

January 23, 2020

Loan limits in many counties across the country increased in 2020, giving homebuyers greater access to a variety of loan programs and potentially enabling them to borrow more toward their dream homes.  While not all areas experienced increases, it’s worth checking to see if your sales turf got a boost. Several Richmond American communities saw upticks ranging from $3,450 to $39,075!

Conventional Loan
Example 2019 vs 2020 Comparison [PDF ] | More on conventional loans

FHA Loan
Example 2019 vs 2020 Comparison [PDF ] | More on FHA loans

VA Loan
Encourage active military members, veterans and their spouses to talk to a loan officer about VA loans, and find out whether that’s their best financing option. 2019 legislation may have eliminated the loan limit for many veterans, so make sure they’re acting on the latest information!

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