2012 Loan Limits

The Federal Housing Finance Agency (FHFA) has issued the loan limits that will apply to conventional loans to be acquired by Fannie Mae and Freddie Mac in 2012. These maximum conforming loan limits will remain at existing levels, except in Fairfield County, Connecticut, where the limits will increase. The first mortgage loan limits are defined in terms of general loan limits and high-cost area loan limits.

First Mortgage Loan Limits

The following chart contains the general loan limits for 2012:

Units

General Loan Limits

Contiguous States,     
District of Columbia, and Puerto Rico

Alaska, Guam, Hawaii, and the U.S. Virgin Islands

One

$417,000

$625,500

Two

$533,850

$800,775

Three

$645,300

$967,950

Four

$801,950

$1,202,925

 

The high-cost area loan limits are established for each county (or equivalent) and are published on eFannieMae.com and on FHFA’s Web site. The maximum limits for 2012 are:

Units

High-Cost Area Loan Limits

Contiguous States,     
District of Columbia, and Puerto Rico

Alaska, Guam, Hawaii, and the U.S. Virgin Islands

One

$625,500

$938,250

Two

$800,775

$1,201,150

Three

$967,950

$1,451,925

Four

$1,202,925

$1,804,375

These limits were determined   under the provisions of the Housing and Economic Recovery Act of 2008.

 

High-cost area loan limits are derived from median home prices estimated by the Federal Housing Administration (FHA) of the Department of Housing and Urban Development (HUD). FHA will permit a 30-day appeals period during which requests for individual area median home price increases will be evaluated. vacation planner domain names . FHFA will issue a subsequent announcement if any individual high-cost area loan limit is increased as a result of the appeals process.

Second Mortgage Loan Limits

For second mortgage loans, the loan limit for 2012 is $208,500 (or $312,750 in Alaska, Guam, Hawaii, and the Virgin Islands). Furthermore, the sum of the original loan amounts of the first and second mortgage loans may not exceed the applicable loan limit for first mortgage loans based on the location and the number of units of the subject property.