11/24/2015 - 2015
Conforming and High-Balance Loan Limits released.
The first mortgage conforming loan limit stays at $417,000 again for
2015. It has been a few years since this has increased, and
may not increase for a while with the drop in home values.
A loan below this amount and has underwriting criteria that
Fannie Mae and Freddie Mac guidelines will get the best
The Housing and Economic Recovery Act of 2008 changed Fannie Mae's
charter to expand the definition of a "conforming" loan. Effective
with the November 2008 release of the conforming loan limits, two
sets of limits are provided for first mortgages: 1) general
conforming loan limits, and 2) high-cost area conforming loan
To implement the expansion to serve high-cost areas, Fannie Mae is
introducing the high-balance loan feature and broadly integrating
high-balance loans into standard conforming business. However,
rates are a bit higher for these "conforming jumbo loans," however
they are much lower than non-conforming jumbo loans.
Maximum Original Principal Balance
|Contiguous States, District
of Columbia, and Puerto Rico
|Conforming Loan Limit
Fannie Mae, in support of the Economic Stimulus Act of 2008, has published a list of the geographic areas designated as high-cost, and the corresponding loan limits.
goodmortgage.com can assist you if you own a home in any of the states
we are licensed in.
Visit the EFANNIEMAE
website below to determine if you are in a High-Cost Area: