2008 Loan Limits Are to Remain the Same

Call me Captain Obvious but here's the news in case you missed it... Straight from the OFHEO (Office of Federal Housing Enterprise Oversight) Press Release Issued on Tuesday, November 27th: "Director James B. Lockhart...announced the maximum 2008 conforming loan limit for single-family mortgages purchased by Fannie Mae and Freddie Mac (the Enterprises) will remain at the 2007 level of $417,000 for one-unit properties for most of the U.S. Higher limits apply to Alaska, Hawaii, Guam and the U.S. Virgin Islands as well as to properties with more than one unit." I guess Californians won't be getting that "break" they were looking for and neither will all those other non-conforming markets. But not to worry, all isn't lost! Share This