Mortgage Loans - Freddie Mac Releases Latest Loan Limit Figures

The mortgage giant Freddie Mac recently issued a statement regarding the maximum conforming loan limits for next year, stating that these limits will remain unchanged from current figures until the end of September 2011 with respect to high cost areas across the United States, and also stating that they will remain unchanged from current rates throughout 2011 with respect to non-high cost areas in the United States. The decision to keep these figures unchanged was made by the Federal Housing Finance Agency (FHFA) based on the Economic Stimulus Act of 2008 (ESA) and the Housing and Economic Recovery Act of 2008 (HERA).

As a result of this announcement, the maximum loan limit for most high cost areas in the United States will remain unchanged at $729,750 for a 1-unit single family property up until the end of September 2011, and may be subject to increases during the last three months of the year. The base conforming loan limits for non-high cost areas in the United States throughout next year will remain unchanged however, at the following rates: $417,000 for mortgages on one-unit properties, $533,850 for mortgages on two-unit properties, $645,300 for mortgages on three-unit properties, and $801,950 for mortgages on four-unit properties.