Fannie Mae & Freddie Mac Increase Loan Limits
LOUISIANA REALTORS • November 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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As previewed last week, NAR is pleased to share the latest consumer guide focused on Making Your Home More Energy Efficient. This guide helps homeowners understand how to reduce energy usage, make cost-effective upgrades, and improve the efficiency and appeal of their home whether they are planning to sell or stay. As a reminder, all guides in this series are available for download—in both English and Spanish—on facts.realtor . Please allow a few days for the Spanish version of the latest resource to be translated and uploaded. For ease of reference, below is a list of the most recent guides: NEW: Making Your Home More Energy Efficient Real Estate Auctions Buyer’s vs. Seller’s Markets Estate Planning Mortgage Interest Tax Deduction Understanding & Protecting Yourself from Title Fraud Thank you for continuing to engage with the “Consumer Guide” series and for sharing the resources with prospective clients so that they have the information they need to find success in their homebuying or selling journey. Please remember that these guides are for informational purposes only and are not meant to enact or change any existing NAR policy. Be on the lookout for next week’s guide on Wednesday, which will cover buying a historic property.
