Good news! Loan Limit have increased for Conventional Loans. The Federal Housing Finance Agency (FHFA) announced that loan limits for Fannie and Freddie mortgages in nearly every part of the U.S. have increased for 2019. Conforming loan limits went from $453,100 in 2018, to $484,350 for 2019. That’s an increase of 6.9% from last year’s loan limit to this year’s.
This marks the third straight year that the FHFA has increased the conforming loan limits after not increasing them from 2006 to 2016.
This means buyers have increased purchasing power. Take advantage and buy a new home today!
Loan Limit Amounts
The Federal Housing Finance Agency (FHFA) publishes annual conforming loan limits that apply to all conventional mortgages delivered to Fannie Mae, including general loan limits and the high-cost area loan limits. High-cost area loan limits vary by geographic location.
Maximum Loan Amount for 2019
| Units | Contiguous States, District of Columbia, and Puerto Rico | Alaska, Guam, Hawaii, and the U.S. Virgin Islands |
|---|---|---|
| 1 | $484,350 | $726,525 |
| 2 | $620,200 | $930,300 |
| 3 | $749,650 | $1,124,475 |
| 4 | $931,600 | $1,397,400 |
Maximum Loan Amount for High-Cost Areas for 2019
+A number of states (including Alaska and Hawaii), Guam, Puerto Rico, and the U.S. Virigin Islands do not have any high-cost areas in 2019.
| Units | Contiguous States, District of Columbia+ | Alaska, Guam, Hawaii, and the U.S. Virgin Islands |
|---|---|---|
| 1 | $726,525 | Not Applicable |
| 2 | $930,300 | Not Applicable |
| 3 | $1,124,475 | Not Applicable |
| 4 | $1,397,400 | Not Applicable |
Source: Marketing Center, 2019, www.fanniemae.com/singlefamily/loan-limits.
If you would like to learn more about available properties in the Truckee, Lake Tahoe area or if you are interested in selling, contact the Carroll Real Estate Team. We are always happy to assist! 800.470.0045
