Mortgage Loan Limits for 2015 Announced by FHFA

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The Federal Housing Finance Agency has published the limits which define the maximum size of the conforming mortgage loans that can be acquired by Fannie Mae and Freddie Mac in 2015. In most of the United States, the limits for a single-family unit remain unchanged from their previous level of $417,000.

The annual recalculation of the limits is done under the Housing and Economic Recover Act 2008. They are based on the median home values in the different counties. In 2014, home prices rose in most parts of the country and this was indicated by national and local indexes. FHFA said that firstly the previous declines in home prices must be offset before the mortgage loan limits are raised in most of the U.S. The calculations are made on the basis of the FHFA home price index. The agency explained that the results would have been the same if other home price indexes had been used.

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The conforming mortgage loan limits remain between $417,000 and $625,000. Higher limits set in the counties with 115% of the median home value exceeding the base limits of $417,000. The maximum possible limits, $625,000, is 50% higher than the base one.

For 2015, the conforming mortgage loan limits are raised in 46 counties. The largest increase is in seven counties of the Boston-Cambridge-Newton-NH metropolitan statistical area in Massachusetts and New Hampshire. The limit for them is increased with $47,150 to reach $517,000.
The limits in seven counties in the Baltimore-Columbia-Towson metropolitan area in Maryland are also raised to $517,000. The increase from the previously set limits in these counties is smaller, however. Three counties in the Seattle-Tacoma-Bellevue metropolitan area also got their maximum conforming loan limits boosted to $517,000. The limits were raised by $11,000 from $506,000. In fourteen counties in the Nashville Tennessee area the limits were increased to $425,500.



Jessie Jessie is a corporate communications and public relations professional skilled in media relations, strategic communications, crisis and issues management, writing and editing. She excels in managing multiple, high-priority tasks and working in high-stakes environments. Jessie has more than 10 years experience writing editing both print and online content. She is a graduate of Illinois State University with a Masters degree in English and writing.


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