BREAKING NEWS: Conforming Loan Limits INCREASED for 2017

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MortgageConforming loan limits have been increased for 2017.  The last time conforming loan limits were raised was in 2006. Conforming loan limits for the last ten years for a single family dwelling have been limited to $417,000, unless the home was located in a county with a high balance conforming loan limit. High balance conforming loan limits for the greater Seattle area have been raised as well to $592,250 for a single family dwelling.

Here are the new conforming loan limits effective January 1, 2017.

One Unit: $424, 100

Two Unit: $543,000

Three Unit: $656,350

Four Unit: $815,650

The new loan limits are effective for conforming mortgages that are closing in 2017.

Watch for a follow up post with a complete list of the 2017 conforming loan limits for all Washington state counties, including 2017 loan limits for FHA and VA mortgages.

If I can help you with your mortgage needs for homes located anywhere in Washington state, I am happy to help! Click here for a mortgage rate quote.

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