The Federal Housing Finance Agency (FHFA) has announced the maximum conforming loan limits for mortgages through Fannie Mae & Freddie Mac in 2015.
Most of the country will not see any changes to the loan limits from 2014. The loan limits for most counties in the US are:
Units Loan Limit
1-unit: $417,000
2-units: $533,850
3-units: $645,300
4-units: $801,950
There are 4 designated high-cost areas that have a maximum loan limit of $625,500 - 50% higher than the standard loan limits. These areas are Hawaii, Alaska, Guam and the US Virgin Islands.
Other high-cost counties have higher loan limits which are based on a calculation established by the Housing and Economic Recovery Act of 2015 (HERA).
For a list of loan limits for all counties in the US, click here:
Mortgages in excess of these loan limits are called jumbo mortgages and are not eligible for sale to Fannie Mae and Freddie Mac.
Please contact me with any real estate or mortgage related questions at BarkerLoans@gmail.com or 708.473.7688.
