 |
2008 Single-Family Mortgage Loan Limits
With passage of the economic stimulus package, Fannie Mae may temporarily purchase loans beyond the company's prevailing conventional loan limit in designated high-cost areas. The company may purchase loans with a maximum original principal obligation of up to 125 percent of the area median home price in high-cost areas, not to exceed $729,750 except in Alaska, Hawaii, Guam and the U.S. Virgin Islands where higher limits may apply.
Single-Family Mortgage Loan Limits effective January 1, 2008:
First mortgages
- One-family loans: $417,000
- Two-family loans: $533,850
- Three-family loans: $645,300
- Four-family loans: $801,950
Note: One- to four- family mortgages in Alaska, Hawaii, Guam, and the U.S. Virgin Islands are 50 percent higher than the limits for the rest of the country.
Second mortgages
- $208,500
- In Alaska, Hawaii, Guam, and the U.S. Virgin Islands: $312,750
|
Historical Loan Limits