The Federal Housing Finance Agency (FHFA) recently announced that the maximum conforming loan limits for mortgages acquired by Fannie Mae and Freddie Mac in 2013 will remain unchanged from 2012.
Throughout most of the nation, the loan limit will be $417,000 for one-unit properties. The limits are higher for designated “high-cost areas.”
Conforming loan limits for 2013
• Click for all county-level 2013 conforming loan limits.
Conforming loan limits for high-cost areas
• Click for all high-cost area 2013 conforming loan limits.
$729,750 loan limit still available
Good news. Some loans will continue to qualify for a $729,750 loan limit.
However, in high-cost areas, loans lenders refinance in 2013 can qualify for the higher loan limit of $729,750, provided a lender originated the original loan from July 1, 2007 to Sept. 30, 2011.
All other refinance and purchase loans in high cost areas are stuck with the $625,500 loan limit.
Unsure about loan limits in your area? Contact Shashank Shekhar.