2019 Conforming Loan Limits for Washington

Conforming loan limits are increasing again this year with the “base” loan limit for a single family home raised to $484,350.

Conforming high balance areas for King, Snohomish and Pierce counties have have higher limits for 2019 as well.  San Juan County will no longer has a high balance limit effective 2019.

King County, Snohomish County and Pierce County: [Read more…]

BREAKING NEWS: Conforming Loan Limits are HIGHER for 2019

Conforming loan limits effective 2019 will be increased from $453,100 to $484,350 for a single family dwelling. Homes located in “high balance areas” such as King County, Pierce County or Snohomish County, will have a conforming high balance loan limit of $726,525 from $667,000.

Stay tuned for a complete list of the 2019 conforming loan limits for homes located in Washington state.

PS: If you are considering refinancing or buying a home and want the higher loan limits with today’s interest rates, you may not have to wait! Contact me for more information if your home is located any where in Washington state, where I’m licensed.

Common Misconceptions about FHA and Conventional Mortgages

I just received a newsletter from a local real estate agent which had an article about whether buyers should opt for a conventional or FHA loan. I’m pretty certain the real estate agent didn’t write the article, however the author, whoever they are, got a lot of things wrong regarding these two mortgage programs. Many of the items that were wrong are what I think are fairly common misconceptions with these two popular mortgage programs. So I thought this was a grand opportunity to write a post to correct them…I’ll skip the fine hairs 😉 [Read more…]

2018 Conforming Loan Limits for Washington State

MortgageConforming loan limits are increasing again this year with the “base” loan limit for a single family home raised to $453,100.

Conforming high balance areas for King, Snohomish and Pierce counties have have higher limits for 2018 as well.

San Juan County’s high balance loan limits are unchanged from 2017. [Read more…]

BREAKING NEWS: 2018 Conforming Loan Limits INCREASED including Greater Seattle – King, Pierce and Snohomish Counties

Conforming loan limits for 2018 have been announced.  From FHFA’s News Release:

Earlier today, FHFA published its third quarter 2017 House Price Index (HPI) report, which includes estimates for the increase in the average U.S. home value over the last four quarters.  According to FHFA’s seasonally adjusted, expanded-data HPI, house prices increased 6.8 percent, on average, between the third quarters of 2016 and 2017.  Therefore, the baseline maximum conforming loan limit in 2018 will increase by the same percentage.  [Read more…]

2016 Conforming Loan Limits for Washington State Mortgages

MortgageConforming loan limits for homes in King County, Snohomish County and Pierce County received a boost with the high balance conforming loan limits of $23,000 for single family dwellings.

All other counties in Washington state will have 2015 conforming loan limits.

[Read more…]

2015 Conforming Loan Limits for Washington State

Earlier this month, the FHFA announced the 2015 conforming loan limits for homes located in Washington state. A conforming loan is a conventional loan (ie Fannie Mae or Freddie Mac). Loan amounts that exceed the conforming loan limit are considered jumbo loans (or non-conforming) and have different underwriting guidelines and rates.

The FHFA increased the loan limits in three counties (King, Pierce and Snohomish) effective 2015. All other counties will have the same loan limits as 2014.

2015 Conforming Loan Limits for Homes Located in Washington State

[Read more…]

BREAKING NEWS: 2015 Conforming Loan Limits HIGHER for King, Pierce and Snohomish Counties

I just received notice from FHFA that overall, 2015 loan limits will remain the same for most counties except for a few counties with higher loan limits. In Washington state, the counties with higher loan limits in 2015 are King County, Snohomish County and Pierce County.

2015 Conforming Loan Limits for King, Snohomish and Pierce Counties:

  • One Unit: $517,500 (increased from $506,000)
  • Two Unit: $662,500 (increased from $647,500)
  • Three Unit: $800,800 (increased from $783,000)
  • Four Unit: $995,200 (increased from $973,100)

All other counties in Washington state have the same loan limits as 2014.

Stay tuned for announcements on FHA and VA loan limits for 2015.