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annyb27 · Joined: 07 Jul 2009 Posts: 144 -1.08 Dollars($)

What are the Fannie Mae guidelines for getting a conforming mortgage with the new maximum loan amount?

sunnyca2009 · Joined: 04 Aug 2009 Posts: 1731 35.55 Dollars($)

It is $417,000/-

For high cost ares it is $729,750/-

adonis · Posted: Sun Sep 27, 2009 8:25 pm Post subject:

Hi annyb,

As far as I know, effective from November 2008, two sets of limits are provided for first mortgages. These include - general conforming loan limits and high-cost area conforming loan limits. Conforming loan limits apply to all conventional mortgages delivered to Fannie Mae on or after January 1, 2009. The high-cost areas are determined by the Federal Housing Finance Agency.

stevecomish · Joined: 16 Sep 2009 Posts: 48 0.08 Dollars($)

its basically related to a cash-out refinance, or to the chance of getting a jumbo mortgage with conforming rates in high cost metropolitan areas.

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