Saturday, December 03, 2005

Fannie Mae, Freddie Mac, and FHA increase loan limits for 2006
Fannie Mae and Freddie Mac will raise their single-family conforming loan limit to $417,000 starting on Jan. 1, 2006. (The current limit is $359,650.) Loan limits for two-, three-, and four-family properties will also increase. Freddie Mac estimates that about half a million more homebuyers will benefit from the new limit, saving as much as $24,700 over the life of the loan with lower-cost conforming financing. These increases will automatically boost the FHA's floor limit to $200,160 and the high limit to as high as $362,790, depending on the county.

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