The Federal Housing Finance Agency (FHFA) publishes the conforming loan limits annually that apply to all conventional mortgages that are delivered to Fannie Mae, including both the general loan limits and the high-cost area loan limits. High-cost area loan limits vary by geographic location.
General Loan Limits for 2011
The general loan limits for 2011 remain unchanged from 2010 (e.g., $417,000 for a 1-unit property in the continental U.S.).
| Maximum Original Principal Balance for 2011 | ||||
|---|---|---|---|---|
| Units | Contiguous States, District of Columbia, and Puerto Rico | Alaska, Guam, Hawaii, and the U.S. Virgin Islands | ||
| 1 | $417,000 | $625,500 | ||
| 2 | $533,850 | $800,775 | ||
| 3 | $645,300 | $967,950 | ||
| 4 | $801,950 | $1,202,925 | ||
FHFA publishes the loan limits on its Web site and Fannie Mae provides tools for determining applicable loan limits. See Resources below.
High-Cost Area Loan Limits for 2011
For loans originated on or before September 30, 2011, the “temporary” high-cost area loan limits will apply and will be the same as the 2010 high-cost area loan limits, up to a maximum of $729,750 for a 1-unit property in the continental U.S. Loans originated on or after October 1, 2011, will use the “permanent” high-cost area loan limits established by FHFA under a formula of 115% of the 2010 median home price, up to a maximum of $625,500 for a 1-unit property in the continental U.S.
***** Please note for loans that are closed after September 30, 2011, the maximum high-balance conforming loan limit will be adjusted back to $625,500.
