California REALTORS® applaud FHFA for raising Fannie Mae and Freddie Mac conforming loan limits
today issued the following statement in response to the Federal Housing Finance Agency's (FHFA) announcement to increase the 2021 conforming loan limits for mortgages acquired by Fannie Mae and Freddie Mac to $548,250 on one-unit properties and a cap of $822,375 in high-cost areas.
- today issued the following statement in response to the Federal Housing Finance Agency's (FHFA) announcement to increase the 2021 conforming loan limits for mortgages acquired by Fannie Mae and Freddie Mac to $548,250 on one-unit properties and a cap of $822,375 in high-cost areas.
- "Increasing the existing Fannie Mae and Freddie Mac conforming loan limits will greatly benefit higher-priced areas of the state and provide stability and certainty to the housing market."
- and the NATIONAL ASSOCIATION OF REALTORS (NAR) both have long advocated for making higher conforming loan limits permanent.
- The conforming loan limit determines the maximum size of a mortgage that government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac can buy or "guarantee."