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FHA Announces Increased 2020 Loan Limits For Minnesota and Wisconsin
In response to rising home prices in most counties, the Federal Housing Administration (FHA) has announced that the
standard loan limit for most of the country will increase to $331,760 on January 1, 2020.
This is an increase of almost $17,000 when compared to 2019’s $314,827 limit.
This is good for news for many homebuyers, especially first-time buyers who would like to buy a home with a smaller down payment or with a lower credit score.
The following table lists the 2020 FHA loan limits for low cost areas:
NUMBER OF UNITS
LOW COST LOAN LIMITS
To search for your county’s 2020 loan limit,
In cooling housing markets where home prices have dropped, the FHA decreased loan limits in 11 counties, including Sibley County in Minnesota.
to see the 11 counties where the decreased 2020 loan limits.
- Dec 09, 2019
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