Conforming 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.
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