The national mortgage loan limit for 2021 is $548,250.
The federal government backs close to 95% of U.S. mortgages through one of its five mortgage agencies.
Of the remaining five percent, many are jumbo loans.
Jumbo loans are loans that are too large to be backed by the government. The demarcation lines between jumbo loans and non-jumbo loan are known as mortgage loan limits.
Mortgage loan limits are national and standardized, with exceptions made in areas where it's expensive for buyers to buy.
The 2021 mortgage loan limit is $548,250 for a one-unit homes including detached houses, town homes, and condominiums.
The limits for multi-unit homes are higher:
There are also 158 areas where loan limits are increased.
These regions are known as “high-cost areas”. They include cities such as San Francisco, Los Angeles, and most of California; New York City; and, Washington, D.C. and its surrounding suburbs.
In high-cost areas, loan limits are close to twenty percent higher.
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