|
Conforming Loan Limits
Increased
for 2002
| Conforming Loan
Limit Increased
Fannie & Freddie announce $300,700 limit for 2002
|
|
| Fannie Mae and
Freddie Mac have
announced that that their single-family mortgage loan limits will
increase to $300,700 for 2002. The conforming loan limit is the
maximum size residential mortgage loan they will buy from
lenders.
Conforming Loan Limits
|
Property Type
|
Current Limit
|
2002 Limit
|
| single-family property |
$275,000
|
$300,700
|
| two-family property |
$351,950
|
$384,900
|
| three-family property |
$425,400
|
$465,200
|
| four-family property |
$528,700
|
$578,150
|
|
|
The new limits become effective January 1, 2002. |
|
