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New Data: U.S. - Fannie Mae Conforming Loan Limits
Tuesday, 12 May 2009 14:52 ET
By Phillip Thorne
Summary
May 2009 -- A full set of conforming loan limits for 1- to 4-unit homes, under the new-for-2009 categories of general vs. high-cost and contiguous vs. outlying areas (17 new annual time series).
Detail

As a government-sponsored enterprise, Fannie Mae is able to purchase only those mortgages that "conform" to certain criteria.  These limits are set by supervisory agencies (previously OFHEO and the FHFB, now the FHFA).  Since 1980, it has been able to purchase mortgages for 1- to 4-unit homes; a separate limit applies to each. 

In 2008, the Housing and Economic Recovery Act changed the Fannie Mae charter, providing for an additional category of "high-cost areas."  In these broad areas, the limits are 50% higher.  There is also the distinction of "contiguous areas" versus "outlying areas" which have yet higher limits.

(Please note that these limits are maximums.  Specific locales within the broad areas may carry lower limits, and Fannie Mae provides a look-up table by county: http://www.fanniemae.com/aboutfm/loanlimits.jhtml )

Accordingly, there are 16 separate time series describing first mortgage limits, as shown in the table below.  Additional series describe conforming limits for second mortgages.  Previously, DataBuffet.com contained only the first-mortgage, single-unit limit (shown in purple).  This series is now identified as XFHFACL1CG1A.US, but may also be retrieved under its old names, HFHFBCL.US and HFHFBCL1.US.  Most of the time series start at 2009, five in 1980, and one in 2008.

Mnemonic Description
  Fannie Mae: Maximum Conforming Loan Limit, ($, NSA)
  First mortgages    
    Contiguous States, District of Columbia, and Puerto Rico  
      General-cost areas
XFHFACL1CG1A.US       1 unit (1980)
XFHFACL1CG2A.US       2 units (1980)
XFHFACL1CG3A.US       3 units (1980)
XFHFACL1CG4A.US       4 units (1980)
      High-cost areas
XFHFACL1CH1A.US       1 unit
XFHFACL1CH2A.US       2 units
XFHFACL1CH3A.US       3 units
XFHFACL1CH4A.US       4 units
    Outlying Areas - Alaska, Guam, Hawaii, and the U.S. Virgin Islands  
      General-cost areas
XFHFACL1OG1A.US       1 unit
XFHFACL1OG2A.US       2 units
XFHFACL1OG3A.US       3 units
XFHFACL1OG4A.US       4 units
      High-cost areas
XFHFACL1OH1A.US       1 unit
XFHFACL1OH2A.US       2 units
XFHFACL1OH3A.US       3 units
XFHFACL1OH4A.US       4 units
  Second mortgages    
    Contiguous states, District of Columbia, and Puerto Rico  
      General areas
XFHFACL2CG1A.US       1 unit (1980)
      High-cost areas
XFHFACL2CH1A.US       1 unit (2008)

 

Other
Related ReleaseConforming Loan Limits
SourceU.S. Federal Housing Finance Agency (FHFA)
FrequencyAnnual
GeographyUnited States
Catalog
Upcoming
Release DateReference date
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