FHFA: Maximum Conforming Loan Limits To Remain Unchanged

Posted by Orb Staff on November 30, 2012 No Comments
Categories : Residential Mortgage

12837_fhfa-02595023 FHFA: Maximum Conforming Loan Limits To Remain Unchanged The Federal Housing Finance Agency (FHFA) has announced that the maximum conforming loan limits for mortgages acquired by Fannie Mae and Freddie Mac in 2013 will remain at existing levels.

In most of the country, the loan limit will be $417,000 for one-unit properties, although in certain areas it is as high as $625,500. The limits are established under the terms of the Housing and Economic Recovery Act of 2008 (HERA), and are calculated each year.

‘The law sets loan limits as a function of median home values in local areas,’ says the FHFA in a press statement. ‘While some counties saw increases in home prices in 2012, no loan limit increases were evident after other HERA terms, such as the statutory ceiling and floor, were taken into account.’

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