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Esquire Real Estate Blog

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2015 Loan Limits

Bryan Zuetel

The Federal Housing Finance Agency recently announced that it will maintain the 2015 maximum conforming loan limits for mortgages acquired by Fannie Mae and Freddie Mac at $625,500 in certain high-cost areas, including Orange County and Los Angeles County.  This is great news for homeowners looking to refinance or purchase in these areas!

The conforming loan limit determines the maximum amount of a mortgage that government-sponsored enterprises Fannie Mae and Freddie Mac can buy or “guarantee.”  Loans greater than $417,000 but less than the limit for the high-cost areas, such as $625,500 in Orange County and Los Angeles County, are commonly termed high-balance conforming loans.  High-balance conforming loans will typically have a slightly higher rate than a traditional conforming loan, but the rates will be significantly less than a jumbo (non-conforming) loan. You can view more information on the high-balance conforming loan limits here: http://www.car.org/newsstand/newsreleases/2014releases/2015loanlimits?view=Standard. 

If you would like to view the conforming loan limits for any other counties, you can find the information here: http://www.fhfa.gov/DataTools/Downloads/Documents/Conforming-Loan-Limits/FullCountyLoanLimitList2015_HERA-BASED_FINAL.pdf 

When considering your next real estate purchase or sale, be sure to have a strategy in place with advisors you can trust to provide you the most accurate market information. Esquire Real Estate works to be that Advocate-Informant on your behalf.