FHA loan limits increased- Fannie Mae & Freddie Mac remain the same

Recently the FHA loan limits have been increased. There are different loan limits depending on the area in which you live. For the Riverside and San Bernardino area in Southern California, the loan limits have increased to $500,000. This is good news for homebuyers looking in these areas who beforehand were unable to receive a loan over $355,350. For the Los Angeles and Orange County area the FHA loan limits have been increased to $729,750.

This is the first time that FHA has surpassed Fannie Mae and Freddie Mac loan limits. However, we assume that Fannie Mae and Freddie Mac will follow in line and increase their loan limits as well. Nothing is for certain, but we will keep you updated on the decisions that are made. Until that time comes, Riverside and San Bernardino areas can receive a loan limit with Fannie Mae and Freddie Mac of $417,000. The Los Angeles and Orange County areas have a limit of $625,500.

Here is a chart below showing the loan limits for FHA as well as Fannie Mae and Freddie Mac for the counties in California. If you would like to view Fannie Mae and Freddie Mac loan limits for a different state click here

Posted on November 29, 2011, in Mortgage and tagged , , , , , , . Bookmark the permalink. 2 Comments.

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