Conventional Loan Limits 2021 - Everything You Need To Know - Future Home Loans
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Conventional Loan Limits 2021 – Everything You Need To Know

Have you heard the huge news? Starting October 2021, conventional loan limit for a regular one-unit property is now $625,000! What does this mean for you? More borrowing power, with small down payments for select borrowers.

In what ways does this new conforming limit benefit borrowers? 

-If you’re a first time home owner (haven’t been on title of a property in 3+ years) you may qualify for a loan amount up to $625,000 with only putting down 3%.

-If you have been on title to a property in the past 3 year and you make less than the median county income limit you may still only need to put down 3%.

-If you are a high income earner and are moving “up” you may only need to put a 5% down payment.

Are you interested in a Conventional Loan? Let us know!

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