Bad Credit Online Magazine - Daily News and Advice on Credit, Debt and Mortgage : Single family conforming mortgage limit will likely be raised to a $400,000 range

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October 04, 2005

Single family conforming mortgage limit will likely be raised to a $400,000 range

Effective October 3rd, certain banks will likely increase conforming mortgage limits. Since Fannie May hasn't announced new conforming limits for 2006, the rates suggested are estimates to the best of my knowledge and common sense.

For 48 contiguous states the conforming mortgage limits may go as far as:
$400,000 - 405,000 for one 1-unit property; $510,000 - 518,000 for 2-unit; $615,000 - 625,000 for 3-unit; $760,000 - 775,000 for 4-unit.

For Hawaii and Alaska the conforming mortgage limits may go as far as:
$600,000 - 605,000, for one 1-unit property; $768,000 - 775,000 for 2-unit; $925,000 - 940,000 for 3-unit; $1,150,000 - 1,165,000 for 4-unit.

Posted in Mortgages at October 4, 2005 12:52 AM

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