Federal Housing Finance Agency and Conforming Loan Limits

The Federal Housing Finance Agency (FHFA) announced late Friday that the conforming loan limit will remain $417,000 for 2009 for most areas in the U.S. but specified higher limits in certain cities and counties. The conforming loan limit is the maximum size of loans that Fannie Mae and Freddie Mac can purchase in 2009.

Following the provisions of HERA, FHFA has set loan limits for "high-cost" areas in 2009. 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. The new limits affect loans purchased by an Enterprise in 2009, unless the loans were made permanently eligible for purchase under the Economic Stimulus Act enacted earlier in 2008 and has generally higher limits.

In addition to a table containing a list of all conforming loan limits for all U.S. counties and statistically equivalent areas, also attached is a list showing only those areas where 2009 loan limits are set by the high-cost area provisions in HERA. 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.

2009 High Cost Area States