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Conventional and Jumbo Loans

Conventional loans are secured by government sponsored entities or GSEs such as Fannie Mae and Freddie Mac. Conventional loans can be made to purchase or refinance homes with first and second mortgages on single family to four family homes.

In general, Fannie Mae and Freddie Mac's single family, first mortgage loan limit is $417,000 in 2006. This limit is reviewed annually and, if needed, changed to reflect changes in the national average price for single family homes. The current loan limit applies to all conventional mortgages delivered after January 1, 2006.


Maximum Original Principal Balance   for
Loans Closed in 2010*

 

Units

Contiguous States, District of Columbia , and Puerto Rico

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

 

General

High-Cost*

General

High-Cost*

1

$417,000

$729,750

$625,500

$938,250

2

$533,850

$934,200

$800,775

$1,201,150

3

$645,300

$1,129,250

$967,950

$1,451,925

4

$801,950

$1,403,400

$1,202,925

$1,804,375

* The limit may be lower for a specific high-cost area; use the Loan Limit Look-Up Table above to see limits by location. High-cost area limits may also vary depending on the loan origination date.

Last Revised: November 13, 2009

These high cost loan limits apply to: Marin, San Mateo , Alameda , Contra Costa, San Francisco

home loans

 

REAL ESTATE BROKER - CA BUREAU OF REAL ESTATE - BRE # 01230152 NMLS # 238187

REAL ESTATE BROKER - CA BUREAU OF REAL ESTATE - BRE # 01230152 NMLS # 238187

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