Friday, December 3, 2010

FHA and Conventional Loan Limits for 2011

The loan limits for Fannie Mae, Freddie Mac, and FHA have been announced for 2011 for the Denver Metro area. Here they are:

The Fannie Mae and Freddie Mac limit is $417,000 for the Denver Metro counties, and $460,000 for Boulder County. Anything over those amounts is considered a jumbo loan. Fannie Mae and Freddie Mac loans are conventional loans, which means they are non-government (FHA or VA) loans.

FHA loan limits also vary depending on the county in which the property is located. For the Denver Metro counties, the limit is $406,250. For Boulder County, the limit is $460,000.

Need to find the limits for a property in a different location? Here's the link to get to the web site that will give you all the loan limits in the country:

https://entp.hud.gov/idapp/html/hicostlook.cfm

Here's how to use the web site:

- From the SORTED BY menu, select County.
- Select the state.
- From the LIMIT TYPE menu, select FHA Forward for FHA loans, or Fannie/Freddie for conventional loans.
- In the LIMIT YEAR menu, make sure the correct year is selected. CY2010 means calendar year 2010 and CY 2011 means calendar year 2011.
- Click on SEND and you will get the loan limits.

Have a question about how to find the loan limits? Call us at 303-345-3683.

Want to make sure you loan closes? Call the Mortgage Experts at 303-345-3683.

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