The Federal Housing Finance Agency announced that maximum conforming loan limits for mortgages acquired by Fannie Mae and Freddie Mac will remain unchanged in 2016 for most of the country. Fannie and Freddie loan limits will remain at $417,000 for single-family homes in 2016, however, in 39 counties deemed “high cost,” the FHFA says that the conforming loan limits will rise next year.
FHFA says most cities will not see the change in loan limits because the agency determined that the average U.S. home value in the third quarter of this year remained below its level in the third quarter of 2007.
View this chart from HousingWire to see the 2016 loan limits for the 39 counties that will be posting increases next year.
Source: “FHFA Announces 2016 Conforming Loan Limits,” HousingWire (Nov. 25, 2015)