2010 Conforming Loan Limits : Same As 2009, 2008, 2007 and 2006

Conforming mortgages are appropriately named; they "conform" to the mortgage underwriting guidelines of Fannie Mae or Freddie Mac. Mortgages meeting these criteria are securitized on Wall Street as mortgage-backed bonds. As mortgage performance has weakened, however, lending standards have tightened. Today's would-be borrowers are asked to document more income, deeper reserves, and higher credit scores. One underwriting area that hasn't tightened, however, is the maximum allowable loan size. In 2010 -- for the 5th consecutive year -- the single-family conforming mortgage loan limit will be $417,000.