Conforming loan limits 2017

Conforming loan limits 2017 - The Office of Federal Housing Enterprise Oversight (OFHEO) set the criteria on what constitutes a conforming loan limit that Fannie Mae and Freddie Mac can buy for 2016.

• $417,000 Single Family
• $533,850 Two Family
  
• $645,300 Three Family
  
• $801,950 Four Family 
• $625,500 Single Family High Cost Area

A temporary increase in the Conforming Loan Limits for high-cost areas of living has been incorporated into the 2008 economic stimulus package. Congress has authorized an increase of the single family residences limits to the lesser of $729,750 or 125% of the median home value within the metropolitan statistical area (MSA). High-cost loans are only available through FHA loans.

Fannie Mae and Freddie Mac establish the maximum loan amounts.

Agency Conforming loans, in the US, are loans that conform to the guidelines of the Government Sponsored Entities known as Fannie Mae and Freddie Mac. The eligible amount of financing for any loan is determined by factors specific to that Loan, including, but not limited to the following:

• Type of financing
• Loan-to-Value (LTV) ratio
  
• Loan amount
• Property type
• Income determination

The general conforming limit is $417,000 and the high-cost area conforming limit is $625,500. The cap for high-cost conforming limits varies by county because the maximum loan amount is calculated to be 115 percent of the 2011 area median home price and is not to exceed $625,500, except in Alaska, Hawaii, Guam and the U.S. Virgin Islands, where the cap is 50 percent higher than the limits for the rest of the country - conforming loan limits 2017.

Apply Now!

Call us 888.958.5382

We recognize the importance to you of keeping your information secure and confidential. We will not sell or share your personal information.

We look forward to working with you.

We look forward to working with you.