BREAKING NEWS: Conforming Loan Limits INCREASED for 2017

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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