Originating & Underwriting

Loan Limits

The Federal Housing Finance Agency (FHFA) publishes annual conforming loan limits that apply to all conventional mortgages delivered to Fannie Mae. These include general and high-cost area loan limits; high-cost areas vary by geographic location.

General Loan Limits for 2021

The general loan limits for 2021 have increased and apply to loans delivered to Fannie Mae in 2021 (even if originated prior to 1/1/2021). Refer to Lender Letter LL-2020-14 for specific requirements.

Maximum Loan Amount for 2021

Units Contiguous States, District of Columbia, and Puerto Rico Alaska, Guam, Hawaii, and the U.S. Virgin Islands
1 $548,250 $822,375
2 $702,000 $1,053,000
3 $848,500 $1,272,750
4 $1,054,500 $1,581,750

Maximum Loan Amount for High-Cost Areas for 2021

+A number of states (including Alaska and Hawaii), Guam, Puerto Rico, and the U.S. Virgin Islands do not have any high-cost areas in 2021.

Units Contiguous States, District of Columbia+ Alaska, Guam, Hawaii, and the U.S. Virgin Islands
1 $822,375  
2 $1,053,000  
3 $1,272,750  
4 $1,581,750  

2021 Loan Limits Overview

  • Loan limits increased for all but 18 counties across the country, including Alaska, Hawaii, Guam, and the U.S. Virgin Islands.
  • In those 18 counties, the limits remained unchanged.
  • Loan limits did not decrease anywhere in the U.S. and its territories.


2021 High-cost Counties/Metropolitan Statistical Areas (MSA)

  • There are high-cost areas within the following states: California, Colorado, Connecticut, District of Columbia, Florida, Idaho, Maryland, Massachusetts, New Hampshire, New Jersey, New York, North Carolina, Pennsylvania, Tennessee, Utah, Virginia, Washington, West Virginia, Wyoming.
  • The high-cost area limits published in Lender Letter-2020-14 are the statutory limits provided by FHFA, but should not be used to determine the loan amount. Lenders must find the applicable loan limit for counties/MSAs in the Loan Limit Look-Up Table or on FHFA's web page.