Conventional Loan Limits for 2007 to Stay at $417,000

Fannie Mae today announced that its 2007 maximum conforming loan limits would remain at the limits set in 2006.

Conforming loan limits may adjust annually. The conforming loan limits adjustments are based on the October-to-October changes in the mean (average) home price, as published by the Federal Housing Finance Board (FHFB). The FHFB figures come from its monthly survey of lenders. Both new and existing homes are included in the survey.

Limits for single-family mortgages purchased by Fannie Mae will remain at the 2006 level of $417,000 for one-unit properties for most of the U.S. Limits for multi-unit loans for 2007 will be as follows: two-family loans $533,850, three-family loans $645,300, and four-family loans $801,950. The 2007 loan limit for second mortgages will be $208,500.

The maximum amounts for one-to-four-family mortgages and second mortgages in Alaska, Hawaii, Guam and the U.S. Virgin Islands are 50 percent higher than the limits for the rest of the country.

All Wisconsin and Illinois Mortgage Programs
100% Financing (No Money Down) Programs
First Time Home Buyer Mortgage Programs
My Community Mortgage
Government Loans including FHA, VA and Rural Housing
Wisconsin Refinance Illinois Refinance Programs

Current Wisconsin and Illinois Mortgage Rates
About Ameristar Mortgage
Apply or Pre-qualify Online
Contact Ameristar Mortgage