Fannie Mae and Freddie Mac Loan Limit Update

The Federal Housing Finance Agency (FHFA) has established the 2017 maximum loan limits that will apply to conventional loans to be acquired by Fannie Mae and Freddie Mac in 2017. This is the first time the maximum loan limits have increased since 2006. In general, the new conforming limit will increase to $424,100 and the high cost limit will increase to $636,150. However, the high cost limit can be less than $636,150 in various counties.

The Fannie Mae announcement says that the new limits are effective for whole loans delivered, and mortgage loans delivered into MBS with pool issue dates, on or after January 1, 2017.

Please consult the applicable announcements from the agencies and your investors if you have any questions.

The Fannie Mae announcement is at the following link, and includes information regarding high cost county limits:
https://www.fanniemae.com/content/announcement/ll1605.pdf

The Freddie Mac announcement is at the following link:
http://www.freddiemac.com/singlefamily/news/2016/1123_loan_limits.html