Freddie Mac limits unchanged for 2010
POSTED: Friday, November 13, 2009
Conforming loan purchase limits under Freddie Mac will be the same for 2010 as they were in 2009, the Federal Housing Finance Agency has announced.
The limits set the maximum original loan amounts allowed on single-family conventional mortgages Freddie Mac can purchase, except in high-cost areas.
The agency also has extended the high-cost loan limits for mortgages originated in certain areas, and they are 50 percent higher in Hawaii, Alaska, Guam and the U.S. Virgin Islands.
The general Hawaii maximum is $625,500 for mortgages on single-unit, single-family homes, with exceptions in counties designated as high cost. (See chart.)
Loan limits are higher for homes with more than one separately habitable unit, such as in ohana-zoned areas.
Hawaii's real estate community is pushing for higher loan limits.
THE LOWDOWN ON LOANS
High-cost area loan limits for 2010
| Market | 1-unit limit | 2-unit limit | 3-unit limit | 4-unit limit |
| Honolulu | $793,750 | $1,016,150 | $1,228,300 | $1,526,450 |
| Kahului-Wailuku | $790,000 | $1,011,350 | $1,222,500 | $1,519,250 |
| Kapaa (metro) | $773,750 | $990,550 | $1,197,350 | $1,488,000 |
| Kalawao County | $716,250 | $916,950 | $1,108,350 | $1,377,450 |
Full county loan limits for 2010
| Market | 1-unit limit | 2-unit limit | 3-unit limit | 4-unit limit |
| Hawaii | $625,500 | $800,775 | $967,950 | $1,202,925 |
| Honolulu | $793,750 | $1,016,150 | $1,228,300 | $1,526,450 |
| Kalawao | $716,250 | $916,950 | $1,108,350 | $1,377,450 |
| Kauai | $773,750 | $990,550 | $1,197,350 | $1,488,000 |
Further details can be found online at www.freddiemac.com.
Source: Federal Housing Finance Agency
