- Mortgages on two-family properties will rise from $427,150 to $460,400
- Mortgages on three-family properties will rise from $516,300 to $556,500
- Mortgages on four-family properties will rise from $641,650 to $691,600
The maximum amounts for mortgages in Alaska, Hawaii, Guam and the U.S. Virgin Islands are 50% higher than the limits for the rest of the country.
Fannie Mae says that most of the loans it purchases are well below the conforming limit; this year the average size of the single-family loans it is purchasing is about $160,000.
Based on the 2005 Freddie Mac loan limit, the FHA ceiling and floor for next year are expected to be approximately $312,895 and $172,632, respectively. Those levels will be officially announced by the Department of Housing and Urban Development at the end of this year.
For further information, e-mail Bill Renner at NAHB, or call him at 800-368-5242 x8597; or contact Michelle Hamecs, x8425 or Mike Carrier, x8529.
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