FHFA: Mortgage Loan Limits Largely Unchanged

Posted by Patrick Barnard on November 26, 2014 No Comments
Categories : Residential Mortgage

The Federal Housing Finance Agency (FHFA) recently made some minor adjustments to the maximum conforming loan limits for mortgages acquired by government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac.

As per the Housing and Economic Recovery Act of 2008 (HERA), the GSEs' loan limits are re-calculated each year.

In 2015, the limit will remain at $417,000 for one-unit properties in most of the country.

However, loan limits will be adjusted in 46 counties where local home values have increased significantly during the past year. These ‘spot’ adjustments are made using a formula established under HERA.

For a list of the 2015 maximum conforming loan limits for all counties and county-equivalent areas in the country, click here.

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