2013 conforming loan limits by the numbers


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, calculated every year, are mandated by the Housing and Economic Recovery Act of 2008 (HERA).

Conforming loan limits for 2013

• Click for all county-level 2013 conforming loan limits.

Conforming loan limits for high-cost areas

Many California counties qualify for the high-cost conforming loan limits, including Los Angeles, Santa Clara, San Francisco, Alameda, Santa Cruz, Contra Costa and San Mateo counties.

• 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.

The LendingExpertBlog’s “Bye, Bye $729,750, welcome back $625,500″ reported last year that the FHFA reduced the high-cost area loan limit to $625,500 from a temporarily higher $729,750.

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.

About the author

A DeadlineNews.Com Contributing Writer Shashank Shekhar is a San Jose, CA-based mortgage lender, author, national speaker and blogger. He has been named to National Mortgage Professional Magazine's "Top 25 Most Connected" and "Top 40 Under-40 Most influential" mortgage professionals. Shekhar's work is featured on Homes.com, Examiner.com, Lender411.com, and his own Lending Expert Blog. Local and national media frequently tap him as an expert mortgage industry source. Connect with Shekhar on Facebook. Contact him at Shashank@ArcusLending.com or call 1.408.615.0655.

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