2017 Conforming Loan Limits to Increase

23 Nov

Fannie Mae Update

Fannie Mae has issued Lender Letter LL-2016-05 to confirm the general and high-cost area loan limits announced by the Federal Housing Finance Agency (FHFA). The base loan limits have increased for the first time since 2006. This represents a 1.7% increase over the 2016 limit. The new loan limit in most of the country will be $424,100 and all but 87 counties (or county equivalents) will see a loan limit increase.

The new limits are effective for whole loans delivered to Fannie Mae and loans in MBS pools with issue dates on or after January 1, 2017. Detailed information and updated resources, including the Loan Limit Look-Up Table, are available on the Loan Limits page.

>> View the announcement here: http://view.exacttarget.com/?qs=10535d343662399cd39febb3b0a182854fed62b52b3b8f7d5b61e76f41c3147e75e1b0b6f28c6197f06d42ce760d4049299a5f4c02736b989cb752f39e4bffdb8956d6dde6a7c0a5

The views expressed are my own and do not necessarily reflect the views of my employer.

Visit my website at: www.juliecnichols.com or contact me with any of your home loan questions.

#MortgageBlog

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