Basic Conforming Loan Limits Won't Change In 2009; Fha Limits Are Set

摘要

The basic Fannie Mae-Freddie Mac conforming loan limits will remain the same in 2009, with the one-family limit staying at $417,000, but the limits in some high-cost areas will be reduced because of a change in the law. Separately, HUD announced the FHA single-family limits for 2009. The Housing and Economic Recovery Act of 2008 (HERA) provides for annual adjustments to the conforming one-to-four-family mortgage limits based on changes in an index of home prices to be maintained by the Federal Housing Finance Agency (FHFA). However, the limits can't be reduced if the index goes down.