Jumbo Loan amount 20162016 Jumbo loan amount
The Single-Family Seller/Servicer Guide will be updated in December to take these 2017 credit lines into account. When planning a Best Efforts Liquid Settlement, you should make a commit date of January 1, 2017 for credits entered into at the 2017 credit limit, otherwise the credits will be valued at the 2016 charges.
Remember: The FHFA's established effective credit limit for certain high value areas may be lower than the above mentioned initial credit limit ceilings. When creating super-compliant mortgage, it is important that you review the credit limit for the region in which the real estate is situated. 2017 credit lines for high-budget areas are available on the FHFA website.
FMHFA news item. FMFA website on compliance with credit limit. FMFA movie about the credit limit increases.
Conformity of credit limits - 2016 update schedule
The Federal Finance Agency for Housing (FHFA) publishes annual credit conformity ceilings. Those credit lines set the limit for credit exposure on traditional mortgage backed by Fannie Mae or Freddie Mac. The thresholds are set by a mathematical equation under the Housing and Economic Recovery Act of 2008 (HERA) and contain general credit thresholds for all states located in selected countries with a higher average homeownership value.
The FHFA raised general, compliant credit lines and lines in a number of high-cost areas in each province in 2018. A mortgage that exceeds these thresholds is referred to as a jumbo loan. A jumbo loan is not supported by the Confederation and may have stricter conditions. In 2018, the applicable credit limit for most US states is as follows.
Below you will find a full listing of credit lines for each high costs district. There are a number of districts throughout the country that are classified as high-cost areas, and the FMFA has approved correspondingly higher credit lines. Effective credit lines for high-cost areas differ by geographic region, and not all countries have high-cost areas.
To see the countries that have compliant credit lines that are larger than the general credit lines, click on your state: