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Fannie Mae & Freddie Mac Increase Loan Limits
LOUISIANA REALTORS • Nov 27, 2019
The maximum conforming loan amount that Fannie Mae and Freddie Mac can back will increase to $484,350 from $453,100 in 2019, a 6.9 percent increase, the Federal Housing Finance Agency announced today.
National Association of REALTORS’ President John Smaby applauded the action, saying it will help keep homeownership within reach for many households by ensuring loan limits keep pace with rising home prices. "Without this assurance, borrowers across the country risk being pushed out of the market," Smaby said today.
The conforming loan limits are also used to define FHA limits.
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A Message from Ken Fears, NAR Director of Conventional Finance and Valuation Policy
Since REALTORS® are essential in enabling housing access for all people, regardless of background or attributes, they view adherence to the FHA as both a legal and moral responsibility.
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