The Federal Housing Financing Agency (FHFA) who oversees Fannie Mae and Freddie Mac, confirmed that conforming limits for 2013 will be unchanged from 2012. This means that a single family 1-unit residence in the greater Seattle area has a conforming loan limit of $506,000. Loan amounts above conforming limits are considered “jumbo” or non-conforming.
Four counties in Washington continue to have “high balance” loan limits above the “general” loan limits:
King County, Snohomish County and Pierce County:
1 Unit: $506,000
2 Unit: $647,750
3 Unit: $783,000
4 Unit: $973,100
San Juan County:
1 Unit: $483,000
2 Unit: $618,300
3 Unit: $747,400
4 Unit: $928,850
The remaining Washington counties have “general” loan limits:
Adams, Asotin, Benton, Chelan, Clallam, Clark, Columbia, Cowlitz, Douglas, Ferry, Franklin, Garfield, Grant, Grays Harbor, Island, Jefferson, Kitsap, Kittatas, Klickitat, Lewis, Mason, Okanogan, Pacific, Pend Oreille, Skagit, Skamania, Spokane, Stevens, Thurston, Wahkiakum, Walla Walla, Whatcom, Whitman and Yakima Counties:
1 Unit: $417,000
2 Unit: $533,850
3 Unit: $645,300
4 Unit: $801,950
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