Conventional Loan Limits 2019 increased, see below chart
The Federal Housing Finance Agency (FHFA) publishes annual conforming loan limits that apply to all conventional mortgages delivered to Fannie Mae and Freddie Mac including general loan limits and the high-cost area loan limits. High-cost area loan limits vary by geographic location.
In South Florida, Miami-Dade, Broward & Palm Beach the loan limits are as follow:
In 2023 the conventional loan limits will be increasing. is going to start lending with the new loan limits towards the end of 2022.
please check below for the amount this will be reflected for the tri-county Miami-Dade Broward and Palm Beach counties.
Historically look at where home prices were since 1980.
When I bought my first home in 1984 the home price limit was $114,000, next year it’s going up to $715,000. 6 fold, wow.
What was the price of a home when you bought your 1st home?
| Year | One Family ($) |
Two Family ($) |
Three Family ($) |
Four Family ($) |
|---|---|---|---|---|
| 2022 | 647,200 | 828,700 | 1,001,660 | 1,244,850 |
| 2021 | 548,250 | 702,000 | 848,500 | 1,054,500 |
| 2020 | 510,400 | 653,550 | 789,950 | 981,700 |
| 2019 | 484,350 | 620,200 | 749,650 | 931,600 |
| 2018 | 453,100 | 580,150 | 701,250 | 871,450 |
| 2017 | 424,100 | 543,000 | 656,350 | 815,650 |
| 2016 | 417,000 | 533,850 | 645,300 | 801,950 |
| 2015 | 417,000 | 533,850 | 645,300 | 801,950 |
| 2014 | 417,000 | 533,850 | 645,300 | 801,950 |
| 2013 | 417,000 | 533,850 | 645,300 | 801,950 |
| 2012 | 417,000 | 533,850 | 645,300 | 801,950 |
| 2011 | 417,000 | 533,850 | 645,300 | 801,950 |
| 2010 | 417,000 | 533,850 | 645,300 | 801,950 |
| 2009 | 417,000 | 533,850 | 645,300 | 801,950 |
| 2008 | 417,000 | 533,850 | 645,300 | 801,950 |
| 2007 | 417,000 | 533,850 | 645,300 | 801,950 |
| 2006 | 417,000 | 533,850 | 645,300 | 801,950 |
| 2005 | 359,650 | 460,400 | 556,500 | 691,600 |
| 2004 | 333,700 | 427,150 | 516,300 | 641,650 |
| 2003 | 322,700 | 413,100 | 499,300 | 620,500 |
| 2002 | 300,700 | 384,900 | 465,200 | 578,150 |
| 2001 | 275,000 | 351,950 | 425,400 | 528,700 |
| 2000 | 252,700 | 323,400 | 390,900 | 485,800 |
| 1999 | 240,000 | 307,100 | 371,200 | 461,350 |
| 1998 | 227,150 | 290,650 | 351,300 | 436,600 |
| 1997 | 214,600 | 274,550 | 331,850 | 412,450 |
| 1996 | 207,000 | 264,750 | 320,050 | 397,800 |
| 1995 | 203,150 | 259,850 | 314,100 | 390,400 |
| 1994 | 203,150 | 259,850 | 314,100 | 390,400 |
| 1993 | 203,150 | 259,850 | 314,100 | 390,400 |
| 1992 | 202,300 | 258,800 | 312,800 | 388,800 |
| 1991 | 191,250 | 244,650 | 295,650 | 367,500 |
| 1990 | 187,450 | 239,750 | 289,750 | 360,150 |
| 1989 | 187,600 | 239,950 | 290,000 | 360,450 |
| 1988 | 168,700 | 215,800 | 260,800 | 324,150 |
| 1987 | 153,100 | 195,850 | 326,650 | 294,150 |
| 1986 | 133,250 | 170,450 | 205,950 | 256,000 |
| 1985 | 115,300 | 147,500 | 178,200 | 256,000 |
| 1984 | $114,000 | 145,800 | 176,100 | 218,900 |
| 1983 | 108,300 | 138,500 | 167,200 | 207,900 |
| 1982 | 107,000 | 136,800 | 165,100 | 205,300 |
| 1981 | 98,500 | 126,000 | 152,000 | 189,000 |
| 1980 | 93,750 | 120,000 | 145,000 | 180,000 |
Note: Maximum loan amounts are 50% higher in Alaska and Hawaii.
Source: FHFA, FNMA, FHLMC
https://www.hsh.com/mortgage/a-history-of-conforming-fanniefreddie-loan-limits.html