{"id":13000,"date":"2020-01-29T06:22:04","date_gmt":"2020-01-29T13:22:04","guid":{"rendered":"https:\/\/www.richmondamerican.com\/blog\/?p=13000"},"modified":"2024-01-04T15:36:03","modified_gmt":"2024-01-04T22:36:03","slug":"new-home-loan-limits-for-2020","status":"publish","type":"post","link":"https:\/\/www.richmondamerican.com\/blog\/new-home-loan-limits-for-2020\/","title":{"rendered":"New Home Loan Limits for 2020"},"content":{"rendered":"\n<p>Curious how new loan limits may\naffect your homebuying journey? Good news! Home loan limits have increased in\nthe new year in several areas across the country. That means more homes\nmay&nbsp;qualify for a greater variety of loans\u2014potentially offering more ways\nto finance your dream home! While not all areas experienced increases, it\u2019s\ndefinitely worth checking to see if your desired county got a boost.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Conventional Loans and FHA Loans<\/strong><\/h2>\n\n\n\n<p><a rel=\"noreferrer noopener\" aria-label=\"Conventional loan limits (opens in a new tab)\" href=\"https:\/\/www.richmondamerican.com\/blog\/wp-content\/uploads\/2020\/01\/2019-2020-Conventional-Loan-Limits-Comparison.pdf\" target=\"_blank\">Conventional loan limits<\/a> and <a rel=\"noreferrer noopener\" aria-label=\"FHA loan limits (opens in a new tab)\" href=\"https:\/\/www.richmondamerican.com\/blog\/wp-content\/uploads\/2020\/01\/2019-2020-FHA-Loan-Limits-Comparison-1.pdf\" target=\"_blank\">FHA loan limits<\/a> at many Richmond American communities saw increases ranging from $3,450 to $39,075, making more homes eligible for mortgages with down payments as low as 3% or 3.5%! A few counties saw even greater increases in loan limits for 2020. Check with a loan officer to see if a <a rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\" href=\"https:\/\/www.richmondamerican.com\/blog\/what-is-a-conventional-loan\/\" target=\"_blank\">conventional loan<\/a> or <a href=\"https:\/\/www.richmondamerican.com\/blog\/what-is-an-fha-loan\/\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">FHA loan<\/a> makes sense for you.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>VA Loans<\/strong><\/h2>\n\n\n\n<p>2019 legislation changes may have eliminated the loan limit for many veterans. Talk to a loan officer to see if a <a rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\" href=\"https:\/\/www.richmondamerican.com\/blog\/what-is-a-va-loan\/\" target=\"_blank\">VA loan<\/a> is the appropriate financing option for your situation, and what you may be able to borrow.<\/p>\n\n\n\n<p><em>Explore our&nbsp;<a rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\" href=\"https:\/\/www.richmondamerican.com\/blog\/a-simplified-guide-to-mortgage-options\/\" target=\"_blank\">Simplified Guide to Mortgage Options<\/a> to learn about more home loan types. Or contact our affiliate,&nbsp;<a href=\"http:\/\/www.homeamericanmortgage.com\">HomeAmerican Mortgage Corporation (HMC)<\/a>, to learn about current programs and how to qualify. Loan officers are available at&nbsp;<a rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\" href=\"tel:866-400-7126\" target=\"_blank\">866.400.7126.<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Curious how new loan limits may affect your homebuying journey? Good news! Home loan limits have increased in the new year in several areas across the country. That means more homes may&nbsp;qualify for a greater variety of loans\u2014potentially offering more ways to finance your dream home! While not all areas experienced increases, it\u2019s definitely worth [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":13005,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"ub_ctt_via":"","cybocfi_hide_featured_image":"","footnotes":""},"categories":[4],"tags":[382],"featured_image_src":"https:\/\/www.richmondamerican.com\/blog\/wp-content\/uploads\/2020\/01\/2020LoanLimit-1.jpg","author_info":{"display_name":"Brian Metzger","author_link":"https:\/\/www.richmondamerican.com\/blog\/author\/bmetzger2\/"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\r\n<title>New Home Loan Limits for 2020 - Richmond American Homes Blog<\/title>\r\n<meta name=\"description\" content=\"Learn about new 2020 home loan limits and how recent changes may impact the way you finance your dream home.\" \/>\r\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\r\n<link rel=\"canonical\" href=\"https:\/\/www.richmondamerican.com\/blog\/new-home-loan-limits-for-2020\/\" \/>\r\n<meta property=\"og:locale\" content=\"en_US\" \/>\r\n<meta property=\"og:type\" content=\"article\" \/>\r\n<meta property=\"og:title\" content=\"New Home Loan Limits for 2020 - 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