Loan Limits Increase for 2017


Filed under: Market Comentary


GrowthFannie Mae and Freddie Mac have announced an increase in the maximum conforming loan limit for 2017.  This is big news since it is the first such increase since 2006.

Beginning on January 1, 2017, the new conforming loan limit for a single family residence will be $424,100, up from the previous $417,000.

The loan limits for high cost areas and for multi-unit, owner-occupied properties have also been increased.

Click here to see the full list of conforming loan limits for every US county

 

FHA Also Raises Loan Limits

The moves by Fannie Mae and Freddie Mac were spurred in part by the FHA announcement that they are also increasing maximum loan limits for loans originated on or after January 1, 2017.

 

Click here to check the FHA loan limit for any US county

 

 

If you have any questions on how this might affect specific deals or borrowers, feel free to contact me via phone or email.


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