The Federal Housing Finance Agency (FHFA) has issued the maximum loan limits that will apply to conventional loans to be acquired by Fannie Mae

in 2017. The first mortgage loan limits are defined in terms of general loan limits and high-cost area loan limits. This is the first time the
maximum loan limits have increased since 2006.

First Mortgage Loan Limits The following chart contains the general loan limits for 2017:

Units General Loan Limits
Contiguous States, District of Columbia, and Puerto Rico, Alaska, Guam, Hawaii, and U.S. Virgin Islands

One $424,100 $636,150

Two $543,000 $814,500

Three $656,350 $984,525

Four $815,650 $1,223,475

The high-cost area loan limits are established for each county (or equivalent) and are published on Fannie Mae’s website and on FHFA’s website.
The maximum limits for 2017 are:

Units High-Cost Area Loan Limits
Contiguous States, District of Columbia, and Puerto Rico*, Alaska, Guam, Hawaii, and U.S. Virgin Islands

One $636,150 $954,225

Two $814,500 $1,221,750

Three $984,525 $1,476,775

Four $1,223,475 $1,835,200

* A number of states and Puerto Rico do not have any high-cost areas in 2017.

High-cost area loan limits are derived from median home prices estimated by the Federal Housing Administration (FHA) of the Department of Housing
and Urban Development (HUD). FHA will permit a 30-day appeals period during which requests for individual area median home price increases will
be evaluated. FHFA will issue a subsequent announcement if any individual high-cost area loan limit is increased as a result of the appeals
process. Updates resulting from subsequent FHFA announcements will be posted on Fannie Mae’s website. Loans subject to the high-cost area limits
are referred to as high-balance loans and must comply with the high-balance loan requirements described in the Selling Guide