Loan Information
2010 Loan Limits Remain The Same
October 31, 2009 by Jeff Thomas · Leave a Comment
Congress passed a resolution yesterday to keep mortgage loan limits to the 2009 loan amounts. (This is good!) The current limit is $417,000 for most areas of the country. While if you live in a high cost area, like most of northern Virginia and the surrounding areas the limit is $729,650.
To check what the maximum is for your area click here: searchable form on HUD’s Web site by entering county name or county tax code.
Fannie Mae, Freddie Mac and HUD have released their new FHA and conforming loan limits for 2010.
The FHA and conforming loan limits for the Washington, D.C., Northern Virginia and Maryland, are as follows:
- One Family: $729,750
- Two Family: $934,200
- Three Family: $1,129,250
- Four Family: $1,403,400
The conforming loan limit determines the maximum size of a mortgage that Government Sponsored Enterprises (GSEs) Fannie Mae and Freddie Mac can buy or “guarantee.”
