Loan Limits for Conventional Mortgages
The Federal Housing Finance Agency (FHFA) publishes annual conforming loan limits that apply to all conventional mortgages delivered to Fannie Mae, including general loan limits and the high-cost area loan limits. High-cost area loan limits vary by geographic location.
General Loan Limits for 2017
The general loan limits for 2017 have increased and apply to loans delivered to Fannie Mae in 2017 (even if originated prior to 1/1/2017). This is the first time the base loan limits have increased since 2006. Refer to Lender Letter LL-2016-05 for specific requirements.
Maximum Original Principal Balance for 2017
| Units | Contiguous States, District of Columbia, and Puerto Rico | Alaska, Guam, Hawaii, and the U.S. Virgin Islands |
|---|---|---|
| 1 | $424,100 | $636,150 |
| 2 | $543,000 | $814,500 |
| 3 | $656,350 | $984,525 |
| 4 | $815,650 | $1,223,475 |
Maximum Loan Limits for High-Cost Areas for Mortgages Acquired in Calendar Year 2017
All but 87 counties (or county equivalents) will see a loan limit increase.
| Units | Contiguous States, District of Columbia+ | Alaska, Guam, Hawaii, and the U.S. Virgin Islands |
|---|---|---|
| 1 | $636,150 | $954,225 |
| 2 | $814,500 | $1,221,750 |
| 3 | $984,525 | $1,476,775 |
| 4 | $1,223,475 | $1,835,200 |
+A number of other states and Puerto Rico do not have any high-cost areas in 2017.
Note that the loan limits apply based on the original loan amount, rather than the unpaid principal balance (UPB).
Source: Fannie Mae