The Federal Housing
Finance Agency (FHFA) has issued the maximum loan limits that will apply to
conventional loans. The first mortgage
loan limits are defined in terms of general loan limits and high-cost area loan
limits. The maximum loan limits for 2014 remain unchanged from 2013; however, a
number of high-cost area county limits have increased.
First Mortgage Loan Limits
The following chart contains the general loan limits for 2014:
Units
|
General Loan Limits
|
|
Contiguous States, District
of Columbia, and
Puerto Rico
|
Alaska, Guam, Hawaii, and
U.S. Virgin Islands
|
|
One
|
$417,000
|
$625,500
|
Two
|
$533,850
|
$800,775
|
Three
|
$645,300
|
$967,950
|
Four
|
$801,950
|
$1,202,925
|
The maximum limits for 2014 are:
Units
|
High-Cost
Area Loan Limits
|
|
Contiguous States, District
of Columbia, and
Puerto Rico*
|
Alaska, Guam, Hawaii, and
U.S. Virgin Islands
|
|
One
|
$625,500
|
$938,250
|
Two
|
$800,775
|
$1,201,150
|
Three
|
$967,950
|
$1,451,925
|
Four
|
$1,202,925
|
$1,804,375
|
These limits were determined under the provisions of the Housing
and Economic Recovery Act of 2008.
*Puerto Rico and a number of other states do not have any
high-cost areas in 2014.
