Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
FHFA Most maximum loan limits will remain at 2011 levels in 2012
WASHINGTON (11/23/11)—The maximum conforming loan limits for mortgages acquired by Fannie Mae and Freddie Mac in 2012 will remain at 2011 levels in all counties but one, the Federal Housing Finance Agency (FHFA) announced on Tuesday.

The lone loan limit exception for 2012 will be Fairfield County, Conn., where the maximum loan limit for single-family properties will increase to $601,450. The maximum loan limit for single-unit properties in that county was $575,000 in 2011, the FHFA said.

The Housing and Economic Recovery Act (HERA) of 2008 requires that Congress set maximum conforming loan limits each year. The maximum conforming loan limits are generally $417,000 but can be as much as $729,750 in certain high cost areas in the contiguous United States. The $729,750 maximum limit fell to $625,500 on Oct. 1 when a loan limit extension could not be agreed to by Congress. However, legislation that would return the maximum limit to $729,750, or 125% of local median prices for single family homes, through Dec. 31, 2013 was signed into law late last week.

For the FHFA release, use the resource link.
Other Resources

RSS





print
News Now LiveWire
Registration lottery for #CreditUnion #CherryBlossom Ten Mile Run opens Monday, Dec. 1 http://t.co/AGkKPof5Fy. Race is April 12
19 hours ago
The turkey hasn't even been served and #creditunions are already making plans for #GivingTuesday
20 hours ago
.@bankofamerica's $16.65 billion 'toxic mortgage' settlement finalized http://t.co/BIq1QyImXG
22 hours ago
RT @CUNA: #NussleReport: ICYMI: Revised RBC proposal in January w/a 90-day comment period #Fix RBC http://t.co/T4JcvWBDse
23 hours ago
.@TheNCUA release on Nov. prohibition orders out already. Here: http://t.co/YkA1QIYbYa
23 hours ago