Conventional Loan Limits to Stay at $417,000 in 2008
Fannie Mae today announced that its 2008 conforming loan limits would
remain at the limits set in 2006 and 2007, as determined by the Office
of Federal Housing Enterprise Oversight (OFHEO).
Limits for single-family mortgages purchased by Fannie Mae will remain at
the 2006 and 2007 level of $417,000 for one-unit properties for most of
the U.S. Limits for multi-unit loans for 2008 will be as follows:
two-family loans $533,850, three-family loans $645,300, and four-family
loans $801,950. The 2008 loan limit for second mortgages will be
$208,500.
The maximum amounts for one-to-four-family mortgages and second mortgages
in Alaska, Hawaii, Guam and the U.S. Virgin Islands are 50 percent higher
than the limits for the rest of the country.
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