The Federal Housing Finance Agency (FHFA) has raised the 2018 maximum conforming loan limit for one-unit properties in most areas to $453,100. This reflects a $29,000 increase from the 2017 $424,100 limit.
This increase is a result of generally rising home values, the increase in the baseline loan limit, and the increase in the ceiling loan limit. The new $453,100 limit applies to most, but not all counties or county equivalents. The result is qualifying more borrowers with agency financing.
New High-Cost Area Limits
The new ceiling loan limit for one-unit properties in most high-cost areas will be $679,650 – a 150% increase.
For more information, visit FHFA.gov, contact Us at 1-800-898-8182, send us an email at info@TheMortgeAdvisory.com