New Loan Limits Blow the Roof Off Mortgages
Borrowing caps set by the government have been raised or even eliminated for 2020.TDKvisuals / Shutterstock
For the first time, a typical borrower in the U.S. can take out a home loan for over half a million dollars and still get the very best mortgage rates. You won't have to settle for one of the higher "jumbo" rates that come with larger loans.
Because of rising home prices, loan limits for government mortgage programs have been raised or even eliminated for 2020, meaning more borrowers can get mortgage deals — even if they live in pricey parts of the country.