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The Federal Housing Finance Agency
(FHFA) announced November 12, 2009 that the conforming loan
limit will remain $417,000 for 2010 for most areas in the
U.S. except specified higher limits in certain cities and
counties which does not include any city or county in
Wisconsin or Illinois. The conforming loan limit is
the maximum size of loans that Fannie Mae and Freddie Mac
can purchase in 2010.
Following the provisions of HERA, FHFA has set loan limits
for “high-cost” areas in 2010. These limits are set equal
to 115 percent of local median house prices and cannot exceed
150 percent of the standard limit, which is $625,500 for
one-unit homes in the continental U.S.
In addition, below is a list showing only those areas where
2010 loan limits are set by the high-cost area provisions
in HERA. The 2010 high cost limits also remained at the
2009 levels. These areas have loan limits above $417,000
for one-unit properties in the continental U.S. and above
$625,500 for properties in Alaska , Hawaii , Guam and the
U.S. Virgin Islands. These high cost limits are set to expire
on December 31, 2010.
2010 High cost area limits (PDF)
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First Time Home Buyer Mortgage Programs
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FHA,
VA
and
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