Final answer:
The Fannie Mae/Freddie Mac maximum loan limit for a single-family home in most areas in 2014 was $417,000. In high-cost areas, this limit could be up to $625,500. These figures are subject to annual adjustments based on housing price changes.
Step-by-step explanation:
The Fannie Mae/Freddie Mac maximum loan limit set by the Federal Housing Finance Agency (FHFA) for a single-family home as of 2014 depends on the geographic area of the property.
In most areas of the United States, the baseline limit for a single-family home in 2014 was $417,000, but in certain high-cost areas, the limit could go up to $625,500. These limits are adjusted periodically based on changes in the average U.S. home prices.
It is important to recognize that these limits are subject to change each year. For the most current limits, one would have to refer to the most recent updates by the FHFA.
The determination of these limits is a way to ensure that Fannie Mae and Freddie Mac can fulfill their mission to provide liquidity, stability, and affordability to the mortgage market.