Sunday, November 22, 2009

Fannie Mae and Freddie Mac Loan Limits Stay the Same for 2010

Fannie Mae and Freddie Mac have announced that the maximum mortgage limits for conforming loans (loans that conform to their underwriting guidelines and are eligible for sale to Fannie and Freddie) will remain the same for 2010. That means most counties in the country will have a limit of $417,000 and some counties will have higher limits.

To see the limits for Fannie Mae, Freddie Mac, and FHA loans, go to this site:

From the drop down menus, select the following (you can ignore the rest):

• Sorted By (select "County")
• State
• Limit Type ("FHA Forward" - for regular FHA loans, "HECM" - for FHA reverse mortgages, or "Fannie/Freddie" - for conventional loans)
• Limit Year (CY stands for Calendar Year)

Then hit "Send" and the loan limits will be displayed.

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