Fannie Confirms 2010 Loan Limits

Fannie Mae has confirmed its 2010 conforming loan limits, as determined by the Federal Housing Finance Agency (FHFA).

The general loan limits remain unchanged from 2009, with a maximum general conforming loan limit for one-unit properties of $417,000.

For high-cost areas, there are no differences between the 2010 and 2009 high-cost area loan limits published by the FHFA. However, as noted in FHFA's announcement, high-cost area loan limits are derived from median home prices estimated by the Department of Housing and Urban Development (HUD). HUD has a 30-day appeals period in which requests for individual area median home price increases are evaluated.

The FHFA will issue a subsequent announcement if any individual high-cost area loan limit is increased as a result of HUD's appeals process. Updates resulting from subsequent announcements from the FHFA will be posted on eFannieMae.com.

SOURCE: Fannie Mae

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