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It's a question almost everyone is asking: "Should I refinance my mortgage?" If so, what's the best way to pay for my mortgage refinance

It's a question almost everyone is asking: "Should I refinance my mortgage?" If so, what's the best way to pay for my mortgage refinance

A History of Conforming (Fannie/Freddie) Loan Limits

A History of "Conforming" (FNMA/FHLMC) Loan Limits

Every year, new loan limits are announced for mortgage loans which may be purchased by the Federal National Mortgage Association (FNMA, or Fannie Mae) and the Federal Home Loan Mortgage Corporation (FHLMC, or Freddie Mac). Fannie Mae and Freddie Mac are the two largest "secondary market" agencies -- corporations which purchase closed loans from mortgage lenders.

Click here for the current year and further explanation.

YearOne
Family ($)
Two
Family ($)
Three
Family ($)
Four
Family ($)
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 153,100 195,850 326,650 294,150
1986 133,250 170,450 205,950 256,000
1985 115,300 147,500 178,200 256,000
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

Note: Maximum loan amounts are 50% higher in Alaska and Hawaii.

Source: FHFA, FNMA, FHLMC

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