FHFA Raises Conventional Loan Limit to $484,350; HECM Limit Still Unknown

FHFA Raises Conventional Loan Limit to $484,350; HECM Limit Still Unknown

This week, the Federal Housing Finance Agency, regulator of Fannie Mae and Freddie Mac, announced the 2019 conventional loan limit for single-family properties will be $484,350, an increase from $453,100 in 2018.

By law, the national lending limit for Home Equity Conversion Mortgages cannot exceed 150 percent of the conventional limit.

“It’s yet to be determined what the new HECM loan limit will be,” said NRMLA Executive Vice President Steve Irwin. “We are closely monitoring the situation and will issue a member alert as soon as we know something.”