Saturday
November 22, 2014

Fannie, Freddie Conforming Loan Limits to Stay Put

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Fannie, Freddie Conforming Loan Limits to Stay Put

The Federal Housing Finance Agency (FHFA) announced this week that it will not be changing the maximum conforming loan limits for mortgages acquired by Fannie Mae and Freddie Mac. Maximum loan limits for single-unit properties will stay at $417,000. However, in some designated high-cost areas that number could rise to $625,500.

Loans originated before October 2011 are grandfathered in under previous legislation, and the maximum loan limit could be as high as $729,750, FHFA reports.

“Last year, President Obama signed a law reinstalling higher conforming loan limits for the Federal Housing Administration through the end of 2013,” HousingWire reports. “That particular piece of legislation allowed the FHA to insure loans up to $729,750 in the nation's most expensive neighborhoods.”

Source: “FHFA: No Change to Conforming Loan Limits at Fannie, Freddie,” HousingWire (Nov. 29, 2012)