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2018 Loan Limits

Mortgage update: New loan limits for 2018

The Federal Housing Finance Agency (FHFA) is raising the baseline conforming loan limit for 2018. The conforming loan limit is increasing nationwide effective January 1, 2018. Loans locked in December 2017 but closing in 2018 would be eligible.

They are also increasing the limits for certain “higher-cost areas” above the baseline. This is in response to significant gains in home values that occurred during 2017. In most counties across the country, the 2018 maximum conforming ban limit to a single-family home is $453,100. That’s an increase of $29,000 from the 2017 baseline limit of $424,000.

What this means for borrowers?

Higher conforming loan limits are an “added value” to the consumer. It allows them to purchase a higher-priced home yet keep their loan amount in a conforming loan limit that provides greater flexibility with underwriting guidelines and programs.

Below you’ll find a snapshot for the high balance conforming loan limit for one-unit properties in select countries.


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