2006 Fannie Mae/Freddie Mac Loan Limits Announced
On November 29, 2005, Fannie Mae and Freddie Mac increased conforming loan limits on single family properties from $359,650 to $417,000, effective January 1, 2006. Next year's 16% conforming loan limit increase is the largest in 20 years. This loan limit increase reflects the October-to-October changes in average house prices, as published by the Federal Housing Finance Board, and complies with the Supervisory Guidance issued by the Office of Federal Housing Enterprise Oversight. Loan limits will also increase on other properties as follows:
- $533,850 for mortgages on two-family properties (up from $460,400);
- $645,300 for mortgages on three-family properties (up from $556,500); and
- $801,950 for mortgages on four-family properties (up from $691,600).
Under the Fannie Mae and Freddie Mac charters, loan limits in states and territories designated high-cost areas – Alaska, Hawaii, Guam and the U.S. Virgin Islands – are 50 percent higher than the amounts above.
CONTACTS: Jeff Lischer 202-383-1117
