FNMA (Fannie Mae) Raises Loan Limits!!

fnmaIf you remember the 90’s and the early part of the 2000’s, you expected Fannie Mae to raise its Loan Limit for residential loans. It was a sign of the times and the Housing Market was booming!  When I first started in 1991, the loan limit was $191,250.  This was the maximum conforming loan amount Fannie Mae would grant under the Fannie Mae guidelines.  Loan amounts over that were considered Jumbo Mortgages, typically higher rates and stricter guidelines.

Since 2006, the loan limit has been set at $417,000 for single family homes and condominiums.  These loan limits had not been raised for 10 years and now for the third year in a row, the loam limits have been raised again!  This is great news for the housing markets and will free up more credit in housing. In 2019, the new Fannie Mae Loan Limit will be set at $484,350.  This will also allow Mass Housing (MHFA) to have increased loan limits as well and create more borrowing power for the consumer.

Here the new Loan Limits:

One Unit Limit –


Two Unit Limit –


Three Unit Limit –


Four Unit Limit –


This increase has been expected, it is also a sign that the Housing Market is moving in the right direction.  With the new increased Conforming Loan Limits, economist say this will continue to boost the economy especially with Mortgage Rates on the rise.

Conforming Loan Amounts allow for several different Down Payment options and in some cases will allow for 0% down through some of the housing agencies.  Compared to Jumbo Mortgages which require 10% down or greater as well as requiring a FICO score of 700 or greater.

Please leave a comment, email or call me anytime with questions you may have about mortgage programs, rates and to get approved for a mortgage.

   NMLS# 4194  www.billnickerson.com  978-273-3227

Bill Nickerson

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Please leave a reply. Thank you! Bill

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