What's Hot: Douglas Development Files PUD For Large Warehouse At New City Site Along New York Avenue
FHA Loan Limits to Rise in DC Area for the Second Year in a Row
✉️ Want to forward this article? Click here.
After not moving much for a decade before ticking up this year, the Federal Housing Finance Agency (FHFA) plans to raise the limits on mortgage loans backed by Fannie Mae and Freddie Mac again in 2018.
The loan limit in most counties throughout the country is currently $424,100 and will go up to $453,100 in 2018, nearly $94,000 more than the 2006 baseline of $359,650. For “high cost” counties like those throughout the DC region, the loan limit will increase from $636,150 to $679,650.
story continues below
loading...story continues above
Government Sponsored Enterprises (GSEs) like Fannie Mae and Freddie Mac guarantee a sizeable portion of mortgages in the country, often at lower costs and more favorable lending terms. The increased loan limits make loan underwriting from GSEs more accessible to a larger pool of homebuyers and brings those loan limits more in line with the realities of the housing market, which has experienced not only a strong recovery since the 2008-2009 recession, but also steady upward climb in home prices over the past 1.5 years.
See other articles related to: fannie mae, freddie mac, loan, loan limits, mortgage lending, mortgages
This article originally published at https://dc.urbanturf.com/articles/blog/fha_loan_limits_to_rise_for_the_second_year_in_a_row/13368.
Most Popular... This Week • Last 30 Days • Ever
![First-Timer Primer: Tax Relief for DC Homeowners](https://assets.urbanturf.com/dc/images/blog/2013/02/Homestead_Exemption_280.jpg)
When you buy a home in the District, you will have to pay property taxes along with y... read »
![A 127-Unit Luxury Condo Building In The Works For Downtown DC](https://assets.urbanturf.com/dc/images/blog/2024/07/resized/950%203rd%20Street%20Dusk%20EXT_image_560x420.jpg)
The largest condominium building in downtown DC in recent memory is currently under c... read »
![HPO Recommends Approval For 160-Unit Office-To-Residential Conversion in Dupont Circle](https://assets.urbanturf.com/dc/images/blog/2024/06/resized/1201-Conn_image_560x420.jpg)
The plan to convert a Dupont Circle office building into a residential development ap... read »
![Beautifully Constructed Condominium in The Bridge District is Now 50% Sold](https://assets.urbanturf.com/dc/images/blog/2024/07/Riviere%20article/resized/2305%20Nicholson%20St%20SE%20405-0003_image_560x420.jpg)
The Rivière includes just 20 homes located on the eastern banks of the Anacostia Riv... read »
![Monday's Must Reads](https://assets.urbanturf.com/dc/images/blog/2024/07/resized/bubble_image_560x420.jpg)
Why Tyra Banks is serving ice cream in DC; a bike shop/record store opens in Adams Mo... read »
DC Real Estate Guides
Short guides to navigating the DC-area real estate market
We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Start browsing below!
First-Timer Primers
Intro guides for first-time home buyers
Unique Spaces
Awesome and unusual real estate from across the DC Metro