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Week of Dec. 3rd-Fannie, Freddie to up loan limits by $43,500 in most of Bay Area next year

December 3, 2017

Borrowers will be able to take out a substantially bigger home loan backed by Fannie Mae and Freddie Mac next year, thanks to a 6.8 percent increase in home prices nationwide.

The two government agencies will raise the maximum-size loan they can guarantee on a single-family home or condo by 6.8 percent next year — to $453,100 from $424,100 in most parts of the country, and to $679,650 from $636,150 in high-cost areas, including most Bay Area counties.

 

That’s the biggest jump in the so-called conforming loan limit since 2006, when the nationwide limit rose to $417,000 from $359,650. As home prices plunged, it remained stuck at $417,000 until this year, when it rose to the current $424,100.  Learn more.




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