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Hi Friends!

With all the changes to the financial world lately, I thought I would publish a simple explanation of what can be expected from lenders in the coming year, as presented by a lending expert.

So here is what we can reasonably expect for 1 to 4 unit residential properties.

Loan Limits Stay the Same for 2009.

The Federal Housing Finance Agency (FHFA) announced today that the maximum size of loans that Fannie Mae and Freddie Mac can purchase in 2009 will remain at $417,000 for most areas in the US. Conforming loan limits are based on changes in the average home prices for the previous year, but cannot decline from year to year.

So for 1-4 units in our area, the loan limits for conforming loans remain at:

• One-family loans: $417,000
• Two-family loans: $533,850
• Three-family loans: $645,300
• Four-family loans:$801,950

As in previous years, the 2009 limits are higher in Alaska , Hawaii , Guam , the US Virgin Islands, and other high price areas such as parts of California . In those areas, loan limits vary from $625,500 to $721,050 for one-unit properties.

Chérie McKeage

Capital Funding Mortgage Company, LLC

Your comments and questions are always welcome!