Archives for November 2020

Conforming loan limits are increasing again this year with the “base” loan limit for a single family home raised to $548,250.

Conforming high balance areas for King, Snohomish and Pierce counties have have higher limits for 2021 as well.

King County, Snohomish County and Pierce County:

• One Unit: $776,250
• Two Unit: $993,750
• Three Unit: $1,201,200
• Four Unit: $1,492,800

Adams, Asotin, Benton, Chelan, Clallam, Clark, Columbia, Cowlitz, Douglas, Ferry, Franklin, Garfield, Grant, Grays Harbor, Island, Jefferson, Kitsap, Kittatas, Klickitat, Lewis, Mason, Okanogan, Pacific, Pend Oreille, San Juan, Skagit, Skamania, Spokane, Stevens, Thurston, Wahkiakum, Walla Walla, Whatcom, Whitman and Yakima Counties:

• One Unit: $548,250
• Two Unit: $702,000
• Three Unit: $848,500
• Four Unit: $1,054,500

I have been helping people refinance and buy homes in Washington state since 2000 at Mortgage Master Service Corporation. If I can help you with your mortgage needs, please contact me.

The Federal Housing Finance Agency has just announced the 2021 conforming loan limits for a single family dwelling will increase to $548,250. This is a jump higher from 2020’s limit of $510,400.

This amount is considered the base loan limit. Homes located in designated high cost areas, like King County, Pierce County and Snohomish County, will have a “high balance” conforming loan limit of $776,250.

Click here for a complete list of Washington state counties and their 2021 conforming loan limits.

I will let you know when FHA and VA announce 2021 loan limits.