New 2009 Limits for Home Loan with Fannie/Freddie

The Federal Housing Finance Agency (FHFA) announced today that the maximum size of loans that Fannie Mae and Freddie Mac can purchase in 2009 will remain at $417,000 for most areas in the US. As in previous years, the 2009 limits are higher in Alaska, Hawaii, Guam, the US Virgin Islands, and other high price areas such as parts of California. In those areas, loan limits vary from $625,500 to $721,050 for one-unit properties.

Looks like Los Angeles & Orange County will be $625,500. Ventura County will be at $598,000. If you are interested in knowing your county, please call. And remember to visit our website: http://www.southernoaksmortgage.com/ or http://www.somloans.com/

New Conforming Loan Limits for 2009!

Finally, someone has heard our prayers. The new conforming loan limit will be $625,500 in high cost areas like, Los Angeles, Orange & Ventura Counties. This is an increases from the old conforming limit of $417,000.

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