at Calculated Risk on 12/03/2024 08:30:00 AM
Today, in the Calculated Risk Real Estate Newsletter: FHFA Announces Baseline Conforming Loan Limit Will Increase to $806,500
A letter excerpt:
After the release of the FHFA house price index for September last week, the FHFA released the conforming loan limits for 2025.
From the FHFA: FHFA Announces Conforming Loan Limit Values for 2025
The Federal Housing Finance Agency (FHFA) today announced the conforming loan limit values (CLLs) for mortgages acquired by Fannie Mae and Freddie Mac (the Enterprises) in 2025. In most of the United States, the 2025 CLL value for one-unit properties will be $806,500, an increase of $39,950 (or 5.2 percent) from 2024 …
Note that there are different loan limits for various geographical areas. There are also different loan limits depending on the number of units (from 1 to 4 units). For example, next year the CLL is $806,500 for one-unit properties in low-cost areas. The four-unit limit is $1,551,250.
For high-cost areas like Los Angeles County, the CLL is $1,209,750 for one-unit properties (50% higher than the baseline CLL) and the four-unit limit is $2,326,875.