Skip to main content

Coaching Your Organization to Success

National Mortgage Professional
Aug 20, 2002

Fannie and Freddie Announce 2002 Loan LimitsMortgagePress.comfannie mae ,freddie mac ,loan limits Both Freddie Mac and Fannie Mae have increased their single-family mortgage loan limits for 2002 to $300,700, a change that is consistent with the increase in the national average home price over the past year. Freddie Mac estimates that 250,000 additional families will obtain lower cost mortgage financing through their 9.3 percent increase over its previous limit, and that total mortgage interest savings for a borrower with a 30-year mortgage will be approximately $37,000 over the life of the loan. Similarly, Fannie Mae expects the new limit to assist an additional 220,000 families, saving borrowers up to $26,900 over the life of their mortgage. The limit on second mortgages will increase as well, to $150,350. The new loan limits set by both organizations will be: ++$300,700 for mortgages on one-family properties (up from $275,000); ++$384,900 for mortgages on two-family properties (up from $351,950); ++$465,200 for mortgages on three-family properties (up from $425,400); and ++$578,150 for mortgages on four-family properties (up from 528,700).
Aug 20, 2002
NewRez Introduces 1% Down Mortgages

RezSource targeted to low-income borrowers and first-time homebuyers.

Dec 04, 2023
Emmy-Winning Director Takes Viewers Inside the World of Mortgage Originators in 'LO Confidential'

New reality series offers a glimpse of the mortgage industry's challenges.

Nov 30, 2023
Shake Things Up In 2024

Embrace change and revitalize your brand for lasting impact

Nov 20, 2023
Luxury Home Prices Hit Highest Third-Quarter Level Ever

Redfin report says the market segment might soon cool, though.

Nov 06, 2023
Tales From The 100-Acre Wood

Be more like Winnie and less like Eeyore to increase business

Nov 02, 2023
Burrowing Into Borrowers' Brains

Getting insight into borrowers' needs builds better relationships and more closings

Nov 02, 2023