The Federal Housing Finance Agency announced Tuesday the 2019 maximum conforming loan limits for one-unit mortgages and National Association of REALTORS® President John Smaby praised the 6.8 percent increase saying that it will make home ownership within reach for many consumers.

John Smaby

“Without this assurance, borrowers across the country risk being pushed out of the market,” he said.

In Illinois, the maximum loan that Fannie Mae and Freddie Mac can back is $484,350 in 2019, an increase of 6.9 percent since $453,100 was announced for 2018. The comforming loan limits also define FHA limits.