Mortgage loan limits were reduced in the country's higher-priced housing markets Oct. 1, 2011.
In most (but not all) U.S. counties, any mortgage of more than $417,000 is a jumbo loan -- and jumbo mortgages have higher interest rates than smaller loans. In counties with high home prices, borrowers are able to get mortgages for more than $417,000 without paying the higher jumbo interest rates.
These high-cost counties still have loan limits, and the limits vary by county. Click on your state in this map to display a chart that lists these higher-cost counties. The chart lists the county's Federal Housing Administration loan limit and the Fannie Mae-Freddie Mac conforming loan limit. Because of a quirk in the law, the FHA loan limits are higher in some counties. That's ironic, because the FHA's intended customer base is low- and moderate-income borrowers.
If a county's name is not listed, then the FHA and Fannie Mae-Freddie Mac limit is $417,000.
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