Higher max conforming mortgage loan limits extended

The Federal Housing Finance Agency announced last week that the conforming mortgage loan limits for Fannie Mae and Freddie Mac loans will be extended through September 2011.

Generally the limit is $417,000 for single family homes, but these limits were increased in a housing recovery bill that was passed in July 2008. The increased limits were set to expire on December 31, 2010, but they have been extended in a further effort to stimulate the real estate industry.

The loan limits are set at 125 percent of local area median home prices, with the cap at $729,750. Below is a list of the conforming limits for single family homes for some counties in Maryland, Virginia and the District of Columbia.

WASHINGTON DC $729,750.00
MONTGOMERY MD $729,750.00
PRINCE GEORGE’S MD $729,750.00
HOWARD MD $560,000.00
ANNE ARUNDEL MD $560,000.00
FREDERICK MD $729,750.00
ARLINGTON VA $729,750.00
FAIRFAX VA $729,750.00
FAUQUIER VA $729,750.00
LOUDON VA $729,750.00
FALLS CHURCH VA $729,750.00
MANASSAS VA $729,750.00

For more information, or if your county is not listed above and you would like to know the conforming loan limit for your county, check out this release from the Federal Housing Finance Agency.

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