Temporary Increase to Our Conventional Loan Limits

Beach Lover

Mar 17, '08 · 10:02 AM1,338

Random AM Question: For the professionals , Did the recent FannisMae increase in Loan limits effect homes sold in the Saeside area? If so, whats the new limit for the area?

Replies

Beach Lover

Mar 17, '08 · 11:28 AM#2

BK:

The limits did not increase for the area. I believe BankRate.com posted a chart with the revised limits and the panhandle area did not see an increase. You might want to search the site for detail.

Little Fish

Beach Fanatic

Mar 17, '08 · 11:58 AM#3

i recently received an email from Bank of america and FHA...with new limits for our area $362,790...

Edited Mar 17, '08 · 11:59 AM

Beach Lover

Mar 17, '08 · 12:05 PM#4

Doesn't look like Walton County made the cut for conventional loan limit changes.

http://www.fanniemae.com/aboutfm/loanlimits.jhtml

Check out the link on the upper right of the page - allows you to download a spreadsheet with limits by county.

Beach Lover

Mar 18, '08 · 5:46 AM#5

Busta:

You may be looking at the average price per home in the area. As I recall, where the average home price was above $417,000, there was an increase in the limit. Where average home prices were less than $417,000, the limit remained unchanged.

Little Fish

Beach Fanatic

Mar 18, '08 · 1:24 PM#6

Busta:

You may be looking at the average price per home in the area. As I recall, where the average home price was above $417,000, there was an increase in the limit. Where average home prices were less than $417,000, the limit remained unchanged.

Little Fish

Yes, I don't think anywhere was reduced. Places like California were talked about going over 700k as an upper limit but I don't know if it went through.