“World's Most Complete Neighborpedia”
Sponsor a Community — What is Localism? | Register or Sign In
Explore:   What's happening in your neck of the woods?
Home Loan Limits Likely to Change Lower

Loan Limits Likely to Change Lower

It is becoming quite likely that we will see changes to the maximum loan limits effective September 30th. Unless congress acts before then, the maximum amounts for high balance loans will be reduced per the schedule below. This is effective for both Conventional and FHA loans. There is also a possibility that the conforming limit of 417,000 could be reduced effective the same date.

County Name CBSA Number State One-Unit Limit Two-Unit Limit Three-Unit Limit Four-Unit Limit

ALLEGANY 19060 MD $417,000 $533,850 $645,300 $801,950
ANNE ARUNDEL 12580 MD $494,500 $633,050 $765,200 $950,950
BALTIMORE 12580 MD $494,500 $633,050 $765,200 $950,950
CALVERT 47900 MD $625,500 $800,775 $967,950 $1,202,925
CAROLINE 99999 MD $417,000 $533,850 $645,300 $801,950
CARROLL 12580 MD $494,500 $633,050 $765,200 $950,950
CECIL 37980 MD $417,000 $533,850 $645,300 $801,950
CHARLES 47900 MD $625,500 $800,775 $967,950 $1,202,925
DORCHESTER 15700 MD $417,000 $533,850 $645,300 $801,950
FREDERICK 47900 MD $625,500 $800,775 $967,950 $1,202,925
GARRETT 99999 MD $417,000 $533,850 $645,300 $801,950
HARFORD 12580 MD $494,500 $633,050 $765,200 $950,950
HOWARD 12580 MD $494,500 $633,050 $765,200 $950,950
KENT 99999 MD $417,000 $533,850 $645,300 $801,950
MONTGOMERY 47900 MD $625,500 $800,775 $967,950 $1,202,925
PRINCE GEORGE'S 47900 MD $625,500 $800,775 $967,950 $1,202,925
QUEEN ANNE'S 12580 MD $494,500 $633,050 $765,200 $950,950
ST. MARY'S 30500 MD $417,000 $533,850 $645,300 $801,950
SOMERSET 41540 MD $417,000 $533,850 $645,300 $801,950
TALBOT 20660 MD $417,000 $533,850 $645,300 $801,950
WASHINGTON 25180 MD $417,000 $533,850 $645,300 $801,950
WICOMICO 41540 MD $417,000 $533,850 $645,300 $801,950
WORCESTER 36180 MD $417,000 $533,850 $645,300 $801,950
BALTIMORE CITY 12580 MD $494,500 $633,050 $765,200 $950,950

As we approach this deadline, watch out for lock terms that extend beyond the 9/30 deadline. If a high balance loan is locked in, best advice is to close by 9/30/11 - unless Congress extends the increased loan limits soon.
Posted Friday Jul 22