The general loan limits for 2019 has increased and apply to loans delivered to Fannie Mae in 2019 (even if originated prior to 1/1/2019). Refer to Lender Letter LL-2018-05 for specific requirements.Maximum Loan Amount for 2019
|Units||Contiguous States, District of Columbia, and Puerto Rico||Alaska, Guam, Hawaii, and the U.S. Virgin Islands|
Maximum Loan Amount for High-Cost Areas for 2019
+A number of states (including Alaska and Hawaii), Guam, Puerto Rico, and the U.S. Virigin Islands do not have any high-cost areas in 2019.
|Units||Contiguous States, District of Columbia+||Alaska, Guam, Hawaii, and the U.S. Virgin Islands|
2019 Loan Limits Overview
- Loan limits increased for all but 47 counties across the country, including Alaska, Hawaii, Guam, and the U.S. Virgin Islands.
- In those 47 counties, the limits remained unchanged.
- Loan limits did not decrease anywhere in the US and its territories.
Borrowers who wish to obtain a mortgage loan in an amount that exceeds the 2017 conforming limits still have options. When a home loan exceeds the caps set by the Federal Housing Finance Agency, it is referred to as a “jumbo” mortgage product, and it cannot be sold to Fannie Mae or Freddie Mac.
An FHA loan is a mortgage loan that is insured by the Federal Housing Administration (FHA). Borrowers can qualify for an FHA loan with a down payment as little as 3.5%.