![]() The one-unit loan maximum for high-cost areas will increase to $636,150. Loan Limits for High-Cost Areasĭesignated high-cost locations where median home values exceed $424,100 have a higher loan limit ceiling. Only mortgages funded or settled on or after January 1, 2017, will qualify for the 2017 loan limits. The new loan limit for one-unit homes will increase to $424,100 effective January 1, 2017. Since 2006, the baseline limit for conforming loans has held steady at $417,000 for one-unit homes in a majority of housing markets across the U.S. The change to conforming loan limits may be good news for house hunters who want to obtain a home loan that exceeds current loan maximums without relying on a jumbo loan.įannie Mae and Freddie Mac are government-sponsored agencies that purchase conforming loans that meet specific criteria. Last month, the Federal Housing Finance Agency (FHFA) announced an increase in conforming loan limits.
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