Fannie Mae Loan Limits 2024 California. In response to escalating home prices in 2023, the federal housing finance agency (fhfa) has announced a 5.5% increase to the baseline (conventional) conforming loan. What is conforming loan limit?
A conforming loan is a conventional home loan that “conforms” to the loan limits established by the federal housing finance agency and the underwriting guidelines of fannie mae. The conforming loan limits for 2024 have increased and apply to loans delivered to fannie mae in 2024 (even if originated prior to 1/1/2024).
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