Jumbo Loan Limit 20152015 Jumbo Credit Limit
The areas in which credit limits will be increased, according to FMFA, are Greater Denver, Colorado, Greater Boston, Massachusetts, Greater Baltimore, Maryland, Greater Nashville, Tennessee and Greater Seattle, Washington. The Boston boroughs of Essex, Middlesex, Norfolk, Plymouth, Rockingham, Strafford and Suffolk will see their compliant credit limit climb from $470,350 to $517,500, an increment of $47,150.
Obviously, this growth is the biggest growth for any shire in the state. At Ventura county, California, which comprises Oxnard, Thousand Oaks and Ventura, the corresponding loan limit will initially go up from $598,000 to $603,750. Napa-count, California, which Napa belongs to, will see its compliant credit limit go up from $592,250 to $615,250, an increment of $23,000.
Boulder County, Colorado, which Boulder also belongs to, will see its compliant credit limit climb from $417,000 to $456,550, an increment of $39,550. The FHFA states that credit lines are set in accordance with the Housing and Economic Recovery Act of 2008 and that they are annual. "Although other districts saw an improvement in home ownership value in 2014, locale boundaries remained the same after other HERA element types were considered," the FHFA said.
Please click here to see the remainder of the districts that will see an extension of their compliant credit lines in 2015. Please click here to see the complete compliant credit limit listing for each US state.