2010 Conforming Loan Limits for Washington State

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Fannie Mae along with FHFA have announced that the 2010 conforming loan limits will be the same as 2009.   FHA's 2010 loan limits will follow from HUD:

However, as noted in FHFA's announcement, high-cost area loan limits are derived from median home prices estimated by the Department of Housing and Urban Development (HUD).  HUD has a 30 day appeals period where requests for indiviual area median home price increases are evaluated.  FHFA will issue a subsequent announcement if any invididual high-cost area loan limit is increased as a result of HUD's apppeals process.

Conforming Loan Limits for 2010

1 Unit – $417,000

2 Unit – $533,850

3 Unit – $645,300

4 Unit – $801,950

NOTE:  The following Washington counties do not have "high-cost area loan limits": Adams, Asotin, Benton, Chelan, Clallam, Columbia, Cowlitz, Douglas, Ferry, Franklin, Garfield, Grant, Grays Harbor, Island, Kittitas, Klickitat, Lewis, Lincoln, Mason, Okanogan, Pacific, Pend Oreille, Spokane, Stevens, Thurston, Wahkiakum, Walla Walla, Whatcom, Whitman and Yakima.

High Balance Loan Limits for Washington State

King, Pierce and Snohomish Counties

1 Unit – $567,500

2 Unit – $726,500

3 Unit – $878,150

4 Unit – $1,091,350

Clark and Skamania Counties

1 Unit – $418,750

2 Unit – $536,050

3 Unit – $648,000

4 Unit – $805,300

Jefferson County

1 Unit – $437,500

2 Unit – $560,050

3 Unit – $677,000

4 Unit – $841,350

Kitsap County

1 Unit – $475,000

2 Unit – $608,100

3 Unit – $735,050

4 Unit – $913,450

San Juan County

1 Unit – $593,750

2 Unit – $760,100

3 Unit – $918,800

4 Unit – $1,141,850

Fannie Mae also announced a loan limit for second mortgages:

For second mortgage loans, the loan limit for 2010 is $208,500…. Furthermore, the sum of the original loan amounts of the first and second mortgage loans may not exceed the applicable loan limit for first mortgage loans based on the location and the number of units of the subject property. These loan limits apply whether or not Fannie Mae owns or has an interest in the first mortgage loan.

When I began my mortgage career back in 2000, the conforming loan limit for a single family dwelling was $252,700. 

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