Fannie Confirms 2010 Loan Limits

Posted by Orb Staff on November 16, 2009 No Comments
Categories : Residential Mortgage

Fannie Mae has confirmed its 2010 conforming loan limits, as determined by the Federal Housing Finance Agency (FHFA).

The general loan limits remain unchanged from 2009, with a maximum general conforming loan limit for one-unit properties of $417,000.

For high-cost areas, there are no differences between the 2010 and 2009 high-cost area loan limits published by the FHFA. However, as noted in FHFA's announcement, high-cost area loan limits are derived from median home prices estimated by the Department of Housing and Urban Development (HUD). HUD has a 30-day appeals period in which requests for individual area median home price increases are evaluated.

The FHFA will issue a subsequent announcement if any individual high-cost area loan limit is increased as a result of HUD's appeals process. Updates resulting from subsequent announcements from the FHFA will be posted on eFannieMae.com.

SOURCE: Fannie Mae

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