Fannie Mae Conforming Loan New Fannie mae loan limits  · The conforming loan limits for Fannie and Freddie are determined by the Housing and Economic Recovery Act of 2008, which established the baseline loan limit at $417,000.

A jumbo loan is a mortgage with an amount that exceeds the limits set by Fannie Mae and Freddie Mac. A jumbo loan is a good option if you’re looking to buy an expensive, luxury home, can afford a large down payment, and have a great credit score.

High Balance Loan Limits This website provides 2019 conforming loan limits by county, as well as VA and FHA limits. In 2019, the baseline loan limit for most counties across the U.S. will be $484,350, an increase over 2018. More expensive markets, such as New York City and San Francisco, have conforming loan limits as high as $726,525.

Because of the 2019 loan limit increase, more buyers and homeowners are able to use these great Fannie and Freddie loan programs. If the loan limits did not increase, it would force buyers and owners in this range to choose less flexible jumbo loan products.

Nice! This is important because Fannie and Freddie, generally speaking, have more competitive pricing for mortgage shoppers than having to take out a jumbo loan (anything over the mortgage giants.

How These Limits Are Set. Washington State conforming loan limits are determined by the Federal Housing Finance Agency (FHFA). The Housing and Economic Recovery Act of 2008 (HERA) requires the FHFA to monitor and track average home prices in the U.S., and to annually adjust the baseline jumbo loan limit as needed to reflect changes in national home values.

Albert Chavez- Fannie Mae raises loan limits 2017 In the United States, a jumbo mortgage is a mortgage loan that may have high credit quality, but is in an amount above conventional conforming loan limits. This standard is set by the two government-sponsored enterprises, Fannie Mae and Freddie Mac, and sets the limit on the maximum value of any individual mortgage they will purchase from a lender.