OFHEO Announces Maximum 2005 Conforming Loan Limit
|November 30, 2004|
OFHEO letters informing the Enterprises of the loan limit calculations|
Armando Falcon, Jr., Director of the Office of Federal Housing Enterprise Oversight (OFHEO), today announced the maximum 2005 conforming loan limit for single family mortgages purchased by Fannie Mae and Freddie Mac. This limit, after the customary rounding down to the nearest $50, can be no higher than $359,650 for one-unit properties.
Effective January 1, 2005, the Fannie Mae and Freddie Mac conforming loan limits, subjected to the customary rounding, applies as follows:
|One-unit mortgages are limited to||$395,650|