2020 Conventional Loan Limit

2020 Arizona Conventional Loan Limits

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As of January 1, 2020 Arizona’s Max Conventional Home Loan Limit is $510,400 (for single family 1 unit homes). This marks the 4th year in a row Conventional Mortgage limits have increased.

Arizona’s higher Conventional Loan Limit of $510,400 for 2020 is welcome news for home-buyers statewide. In fact, most Counties in the United States usher in 2020 with this same ceiling for their respective Conventional Home Loan limits.

The most common 2020 maximum Conventional loan amount is $510,400. This represents the max loan for a single family 1 unit home in a non-high cost marketplace.

However, different and higher 2020 Conventional loan limits exist for 2, 3 and 4 unit properties as well as homes located in “high cost areas” of the Country.

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Arizona Conventional Loan Limits 2020

STATECOUNTYOne Unit Max LoanTwo Unit Max LoanThree Unit Max LoanFour Unit Max Loan
ArizonaApache County$510,400$653,550$789,950$981,700
ArizonaCochise County$510,400$653,550$789,950$981,700
ArizonaCoconino County$510,400$653,550$789,950$981,700
ArizonaGila County$510,400$653,550$789,950$981,700
ArizonaGraham County$510,400$653,550$789,950$981,700
ArizonaGreenlee County$510,400$653,550$789,950$981,700
ArizonaLa Paz County$510,400$653,550$789,950$981,700
ArizonaMaricopa County$510,400$653,550$789,950$981,700
ArizonaMohave County$510,400$653,550$789,950$981,700
ArizonaNavajo County$510,400$653,550$789,950$981,700
ArizonaPima County$510,400$653,550$789,950$981,700
ArizonaPinal County$510,400$653,550$789,950$981,700
ArizonaSanta Cruz County$510,400$653,550$789,950$981,700
ArizonaYavapai County$510,400$653,550$789,950$981,700
ArizonaYuma County$510,400$653,550$789,950$981,700

Why Are Conventional Loan Limits Important?

2020’s Conventional Loan Limit increase to $510,400 continues a trend which re-started just 4 years ago. Prior to 2017’s ice breaking loan limit hike, Conventional maximum loan limits stalled at $417,000 from 2006 to 2017.

88% of recent buyers financed their home purchase. 97% of buyers 38 years and younger financed. 61% of all buyers used conventional loans to finance their home.

National Association of Realtors Research Group, April 2019

This young trend supports future health for Real Estate. In fact, most home prices and amount financed fall into the Conventional loan limit range. Additionally, most consumers do not pay cash for their home. According to the National Association of Realtors (NAR) 88% of all recent buyers used a home loan to buy their home. NAR also found that 97% of recent home buyer’s under age 38 mortgaged their home purchase.

Conventional loan limits syncing with rising home values grants more home-buyers greater access to affordable Conventional home loan products. This is important because Conventional home loans offer lower down payment options and more flexible underwriting than JUMBO mortgages (a JUMBO home loan is a loan greater than the max Conforming Loan Limit for a given area).

Conventional Loan Limits 2000 to 2020

  • 2000 – $252,700
  • 2001 – $275,000
  • 2002 – $300,700
  • 2003 – $322,700
  • 2004 – $333,700
  • 2005 – 359,650
  • 2006 – $417,000
  • 2007 through 2016 – no change
  • 2017 – $424,100
  • 2018 – $453,100
  • 2019 – $484,350
  • 2020 – $510,400