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. 

The “baseline loan limit” for a single family dwelling will be $453,100 for conforming mortgages closing in 2018.

The “high balance” loan limit for single family dwellings located in King, Pierce or Snohomish counties is increased to $667,000.  San Juan County’s loan limits in 2018 will be the same as 2017 – $483,000 for a single family unit.

Here is a complete list of 2018 conforming loan limits for all counties in Washington state.

FHA and VA loan limits have not been announced yet.

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PS: If you’re interested in buying or refinancing a home located anywhere in Washington state, I’m happy to help you.


  1. Lucy Williams says

    Hi Rhonda,
    I have a home in Texas whose equity I would like to use to buy a VA financed home in WA. I have about 20,000 in equity. Can I borrow against this in order to put a down payment on a VA loan? The reason I want to use a down payment is because of the competitive housing market. I found that most sellers will not consider VA loans. Additionally, the VA underwriting financing threshold appears to be higher than for conventional loans. At least, that has been my experience. It really boils down to having a benefit but not being able to use it. At any rate, the mortgage payment would be reduced by the down payment and possibly influence a seller’s unwillingness to consider VA loans. Alternatively, I might have to consider an FHA loan. Please let me know how I can leverage my finances in order to purchase a modest home in King or Snohomish counties. Regards.

  2. Hi Lucy,
    You can use secured borrower funds (like a mortgage/deed of trust) for down payment on a new home as long as you qualify for all mortgage payments.

    It would probably be an easier transaction to do a VA loan on the home you want to buy so you’re not dealing with two mortgages being approved (unless you already have an equity line open on the Texas home).

    I do think it’s sad that buyers wanting to use VA mortgages can sometimes be wrongly judged by sellers and real estate agents. VA loans are not much different than conventional when it comes to underwriting or the appraisal these days.

    When I’m working with a VA buyer, I do my best to educate the real estate agents and the sellers. I write a strong preapproval letter and will let them know that, in a scenario like yours, that you could go conventional with your financing, however, you EARNED the right to have a VA mortgage due to your service to our country. In addition, unless you’re putting 20% down payment, the VA loan is most likely a financially better choice as you will not have private mortgage insurance and the rate (currently) tends to be lower than conventional.

    Let me know if I can help you with the purchase of your new home in King or Snohomish county. Our underwriters are just down the hall from my office 🙂

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