2015 Conforming Loan Limits Unchanged in Most of U.S.

December 2, 2014

The Federal Housing Finance Agency (FHFA) on Nov. 24 announced that the maximum conforming loan limits for mortgages acquired by Fannie Mae and Freddie Mac in 2015 will remain at $417,000 for one-unit properties in most of the country.

Loan limits will rise in 46 counties due to increases in local home values. The loan limits are established under the terms of the Housing and Economic Recovery Act of 2008 (HERA) and calculated each year.

HERA provisions set loan limits as a function of local-area median home values. Where 115 percent of the local median home value exceeds the baseline loan limit ($417,000 in most of the U.S.), the local loan limit is set at 115 percent of the median home value. The local limit cannot, however, be more than 50 percent above the baseline limit. In the District of Columbia and all states except Alaska and Hawaii, the highest possible local area loan limit for a one-unit property is $625,500 (150 percent of $417,000).

Click here for a list of the 2015 maximum conforming loan limits for all counties and county-equivalent areas in the country.

Contact ALTA at 202-296-3671 or communications@alta.org.