Conventional Loan Limit will be $484,350
Previously $453,100 in Central Florida
WHAT DOES THIS MEAN FOR YOUR BUYERS?
More Purchasing Power and BETTER Financing!
Click to learn more about YOUR County limits: COUNTY WIDE LOAN LIMIT MAP.
The conforming loan limits for Fannie and Freddie are determined by the Housing and Economic Recovery Act of 2008, which established the baseline loan limit at $417,000 and mandated that, after a period of price declines, the baseline loan limit cannot rise again until home prices return to pre-decline levels. But, as the FHFA noted home prices are still on the rise, which necessitates a third straight yearly increase in the conforming loan limit.
FHFA will raise the maximum conforming loan limits for mortgages Fannie Mae and Freddie Mac purchase in 2019 from $453,100 to $484,350. In high-cost areas, such as Los Angeles, New York, San Francisco and Washington, D.C., the maximum loan limit will be $726,525, which is 150 percent of $484,350. Limits will rise in all but 47 counties in the country.