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Freddie Mac Maximum Loan Limits Are Unchanged for 2010

November 12, 2009, Single-Family Advisory E-mail

Today, we are announcing that our base conforming loan limits will be maintained at their current 2009 levels for 2010, with the maximum loan limit for a 1-unit single-family property remaining at $417,000. The temporary high-cost loan limits for properties located in designated high-cost areas will remain unchanged for 2010 as well.

  • High-Cost Area Loan Limits
    As a reminder, the loan limits in designated high-cost areas are the higher of the temporary limits established by the Economic Stimulus Act of 2008 (maximum of $729,750 for 1-unit single-family properties in the contiguous United States) and the permanent limits established by the Housing and Economic Recovery Act of 2008 (maximum of $625,500 for 1-unit single-family properties in the contiguous United States).

    Actual loan limits for a specific high-cost area may be lower than the maximum permitted loan limit. It is important that you review the 2010 loan limits permitted for a specific county, which the Federal Housing Finance Agency (FHFA) determines and makes available on its Web site.

  • Super Conforming Mortgages
    The recently enacted extension of the high-cost loan limits through year-end 2010 applies to all super conforming mortgages with note dates on or after October 1, 2008, and on or before December 31, 2010.

  • Operational Impacts
    Because the 2010 loan limits are unchanged from 2009, there are no impacts to Loan Prospector® or the selling system.

The Single-Family Seller/Servicer Guide (Guide) will be updated in an upcoming Guide Bulletin to reflect the extension of current loan limits through 2010, as well as the change to the eligible note date for super conforming mortgages.

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© 2012 Freddie Mac

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