Current High Loan Limits for Fannie, Freddie and FHA (Video)

By: | February 4th, 2013

Each year loan limits are looked at and set for conforming loans, as well as, FHA loans. The limits are determined by the median home values in each location and are established each year under the terms of the Housing and Economic Recovery Act of 2008. Every year these loan limits are adjusted to be in accordance with the changes that have occurred in the average home prices of an area. Current high loan limits for Fannie, Freddie and FHA have been established and are in place for this year.

Again this year, as was in 2012, the loan limits for the GSE’s, Fannie Mae and Freddie Mac, and FHA are different. Each agency has a high limit which is known a conforming jumbo loan or loan with higher limit. This video will further show and explain the differences to each agency limit. Borrowers who are looking for a mortgage or refinance, should be aware of the range of loan limits since different types of loans usually have different mortgage rates.

Any financing needed over and above these limits will require a traditional jumbo loan which is usually held within a lender’s portfolio. Traditional jumbo loans have stricter guidelines and higher mortgage rates, although they can be very competitive. surveys more than two dozen wholesale and direct lenders’ rate sheets to determine the most accurate mortgage rates available to well qualified consumers at about a 1 point origination fee.


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