Professional Home Staging and Photography Blog: Conforming, Conforming Jumbo, and FHA Loan Limits for Massachusetts for 2009

Conforming, Conforming Jumbo, and FHA Loan Limits for Massachusetts for 2009

For the 4th straight year, the conforming mortgage loan limit will remain at $417,000.

What is a conforming loan? A conforming mortgage is one that conforms to Fannie Mae or Freddie Mac mortgage underwriting requirements. Banks and lenders can sell these mortgages to Fannie Mae or Freddie Mac which make up the bulk of the mortgage backed securities. 

FHA mortgage limits are based on up to 125 percent of the area's median housing prices, a variety of housing types, and the state and county in which the property is located.

The conforming, conforming jumbo and FHA loan limits for single family homes, townhomes and condos in Massachusetts for 2009 are as follows:

2009

        

LOAN LIMITS

        FNMA

         FHA

Barnstable County

     $417,000

     $405,950

Berkshire County

     $417,000

     $271,050

Bristol County

     $426,650

     $426,650

Dukes County

     $625,500

     $625,500

Essex County

     $465,750

     $465,750

Franklin County

     $417,000

     $271,050

Hampden County

     $417,000

     $271,050

Hampshire County

     $417,000

     $271,050

Middlesex County

     $465,750

     $465,750

Nantucket County

     $625,500

     $625,500

Norfolk County

     $465,750

     $465,750

Plymouth County

     $465,750

     $465,750

Suffolk County

     $465,750

     $465,750

Worcester County

     $417,000

     $285,200

Loans in excess of conforming and conforming jumbo loan limits are referred to as "jumbo" or "super jumbo" home loans, depending on their size. Jumbo mortgages are often more costly than conforming mortgages because they do not have the backing of the U.S. government. 

 

East Bridgewater, MA 02333
Phone: (508) 443-1332

Lew Corcoran, ASP®, IAHSP, IAHSP-CB
Accredited Home Staging Professional
Professional Real Estate Photographer

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Comment balloon 0 commentsLew Corcoran, ASP® • December 22 2008 07:01AM

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