New Loan Limits!

Loan limits for Fannie Mae and Freddie Mac increase to $510,400 in 2020, an increase from $484,350 in 2019!

There has been an update provided by The Federal Housing Finance Agency. The agency has announced the Fannie Mae and Freddie Mac conforming loan limits for mortgages for 2020.

Each year, the baseline conforming loan limit is adjusted accordingly with the change in the average U.S. home price. House prices during the third quarters of 2018 and 2019 have increased by 5.38 percent on average, therefore, The Federal Housing Finance Agency is increasing 2020’s maximum limit by the same percentage.

It will be higher than the $510,400 baseline limit in certain areas where median home values were higher.

There are different calculations for Alaska, Hawaii, Guam, and the U.S. Virgin Islands. The baseline limit in these areas will be $765,600.

Click here for a map of 2020 loan limits by area!

If you are interested in learning more, contact one of our loan officers for information today!



PreScreen Opt-Out

Under the Fair Credit Reporting Act, Consumer Credit Reporting Agencies can share lists that contain the information of people who had recent credit inquiries, such as with mortgage applications. Companies, and sometimes individuals, purchase those lists with the intention of soliciting and selling additional credit and loan services, known as “Firm Offers”, to the unsuspecting borrower.

These solicitations start quickly and continue even after the loan has closed. Many borrowers would prefer not to receive the extra “junk” mail or sales calls, and fortunately, there is an easy fix!

  • Visit to opt out. This prevents the Consumer Credit Reporting Companies from providing your credit file information for Firm Offers.
  • You can choose to opt out for five years, or permanently.
  • If you ever change your mind, you can also visit this site to opt in and receive eligible offers again.

You should be able to choose whether you want your information shared with potential solicitors as a result of your mortgage application. That’s why at First Home Mortgage, we know the importance of sharing this information with all our clients, to ensure you know your rights under the Fair Credit Reporting Act.

Please reach out to one of our loan officers if you have any questions!

First Home Mortgage at the Kennedy Krieger Institute’s Festival of Trees

First Home Mortgage was once again a proud silver sponsor of the Kennedy Krieger Institute’s annual Festival of Trees, for our sixth consecutive year! Our donated tree (pictured), was decorated and named “A Little Sparkle in the Season”.

The Festival of Trees was first held in 1990 and has been an annual Baltimore tradition for the past 30 years. It is a magical three-day family event that brings holiday spirit and fun to the community while benefiting the Kennedy Krieger Institute. This internationally recognized institution, located in Baltimore, Maryland, is dedicated to improving the lives of children with developmental disabilities and disorders. The Festival has grown enormously since its inception and has raised over $1.2 million in 2018 alone.

Per their website, as of 2018 festival of trees has:

  • $23 million raised for Kennedy Krieger Institute
  • Welcomed 975,000 guests (This year, they welcomed their millionth guest!)
  • Showed 5,741 decorated trees and 3,679 wreaths
  • Displayed 1,547 gingerbread houses

We are thankful for the opportunity to contribute to such a worthy community cause, and we look forward to doing so again next year!  To find out more about Festival of Trees and Kennedy Krieger Institute or how to donate, please visit:

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