Despite the slide in housing prices in most parts of the country, the conforming home loan limit will remain at $417,000 next year for most of the country, the government said Friday.

Loan limits for two-, three-, and four-unit properties will also remain at 2008 levels. For two-unit properties the limit is $533,850, for three-unit properties it's $645,300, and for four-unit properties it's $801,950.

What does this mean for you? Well, if you are buying a condo for $500,000 and you were putting down 20%($100,000), this would be a conforming loan at $400,000. If your purchase price was $600,000 and you put down 20%($120,000), this would be a jumbo loan $480,000 and your rate would a 1/2 point to 1 point higher. The difference between a 6% rate and 6.5% on $480,000 is a $156/month which is a substantial amount over the life of the loan. If you are purchasing a home or condo for $417,000 or under this will not affect you.

Link to CBSMarketwatch