Next year’s loan limits on mortgages sold to Fannie Mae and Freddie Mac have been published and include increases for counties in several states.
The baseline conforming limit for one-unit residences that are located in the contiguous United States currently stands at $417,000.
On duplexes, the limit rises to $533,850, while the limit on three-unit properties is $645,300, and the four-unit limit is $801,950.
Single-family limits are 50 percent higher in Alaska, Hawaii, Guam and the U.S. Virgin Islands. That works out to $625,500.
As required by the Housing and Economic Recovery Act of 2008, some counties designated as high cost in states like California can have higher limits up to $625,500.
An announcement Monday from the regulator and conservator of Fannie and Freddie — the Federal Housing Finance Agency — indicates that the baseline limit won’t change for 2015.
But limits will rise in 46 counties located in California, Colorado, Maryland, Massachusetts, New Hampshire, Tennessee and Washington because of appreciation.
“Although other counties experienced home value increases in 2014, after other elements of the HERA formula were accounted for the local-area limits were left unchanged,” FHFA said.
The full list of increased limits by county is at:
www.fhfa.gov/DataTools/Downloads/Documents/Conforming-Loan-Limits/Counties_with_increases_cy2015.pdf
A full listing of limits for all U.S. counties is at:
www.fhfa.gov/DataTools/Downloads/Documents/Conforming-Loan-Limits/FullCountyLoanLimitList2015_HERA-BASED_FINAL.pdf
The limits apply to loans sold to Fannie and Freddie during calendar-year 2015 as well as loans originated from Oct. 1, 2011, through June 30, 2007, as required by HERA.
