2005 Conforming Loan Limits

New conforming loan limits are announced (for 1 to 4 family homes) each year for mortgage loans which may be purchased by the Federal National Mortgage Association (FNMA, or Fannie Mae) and the Federal Home Loan Mortgage Corporation (FHLMC, or Freddie Mac).

For 2005, the conforming Loan Limits are as follows:

One-family: $359,650 (up from $333,700)	Two-family: $460,400 (up from $427,150)
Three-family: $556,500 (up from $516,300)	Four-family: $691,600 (up from $641,650)

These Limits are effective January 1, 2005. In the 4Q of 2005, the 2006 limits will be determined and will go into effect January 1, 2006.

The maximum loan amounts for mortgages in Alaska, Hawaii and the U.S. Virgin Islands are 50% higher than the limits for the continental United States.

"Conforming" loans are so called because the home loan sizes conform to the maximum loan amounts which may be purchased by Fannie Mae or Freddie Mac). Jumbo Loans  are mortgages with loan amounts which exceed the current conforming loan limits.