The Federal Housing Finance Agency (FHFA) has announced 2021 loan limits for FNMA and FHLMC agency loans.
REMN limits the maximum loan amount on Freddie Mac transactions to $1,000,000 regardless of the number of units.
**NOTE** Alaska and Hawaii high-cost limits have not been implemented by FHFA, which means loan limits in these states must conform to the general loan limits.
If the loan is a high balance/super conforming loan, it is important to check the loan limit for the property address county as loan limits may be lower than the amount identified in the table above.
The 2021 loan limits may be applied to new submissions and to floating loans currently in the pipeline. Loans with the 2021 limits must be manually locked with the REMN lock desk.
Loans may receive an “Approve/Ineligible” or “Accept/Ineligible” finding, however, REMN will accept if the only ineligible reason is due to the loan amount exceeding the 2020 limit.
REMN will update Fannie Mae and Freddie Mac guidelines with these new limits in our December guideline release.
If you have any questions, please contact your Account Executive.
