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2018 Loan Limits Agency, FHA & VA

Agency 2018 Conforming Loan Limits
The Federal Housing Finance Agency (FHFA) has published the maximum loan limits effective for loans acquired by Fannie Mae and Freddie Mac in 2018. Both the general and high-cost area loan limits have increased. While there are no decreases in high-cost area county limits, some county limits stayed the same as 2017. Loan limits for all counties can be located at http://www.fhfa.gov/DataTools/Downloads/Pages/Conforming-Loan-Limits.aspx.

General Loan Limits
Units Contiguous 48 States and District of Columbia Alaska, Hawaii, and US Virgin Islands
One $453,100 $679,650
Two $580,150 $870,225
Three $701,250 $1,051,875
Four $871,450 $1,307,175

High-Cost Area Loan Limits
Units Contiguous 48 States and District of Columbia Alaska, Hawaii, and US Virgin Islands
One $679,650 $1,019,475
Two $870,225 $1,305,325
Three $1,051,875 $1,577,800
Four $1,307,175 $1,960,750

LendingSpace will be updated on Friday, December 15, 2017 to allow for locks at the higher limits. Fannie Mae announced the availability of new loan limits in Desktop Underwriter over the weekend of December 9, 2017. Freddie Mac has announced Loan Product Advisor was updated on December 3, 2017.

FHA 2018 Loan Limits
The Federal Housing Administration (FHA) has published Mortgagee Letter 2017-16 announcing maximum loan limits effective for FHA case numbers assigned on or after January 1, 2018 through December 31, 2018. The new loan limits apply to all forward mortgages, except streamline refinances.

The national FHA loan limit floor for non-high cost areas increased from $275,665 in 2017 to $294,515 in 2018. The ceiling for FHA one-unit loans in high-cost areas increased to $676,650, and there are numerous counties with limits between the floor and the ceiling. Not all counties experienced increases. 2018 county limits have been updated on FHAs Mortgage Limits Search Engine. To determine the 2018 limit, select CY2018 from the Limit Year drop down menu. LendingSpace will be updated with the new county/area limits on Friday, December 15.

VA 2018 Loan Limits
The Veterans Administration (VA) will apply the 2018 one-unit county loan limits published by the FHFA as the loan limits for VA loans closed on or after January 1, 2018 through December 31, 2018. The effective date is based on the closing date. VAs county limit floor increased from $424,100 in 2017 to $453,100 in 2018. As is true for the conforming loan limits, while there are no decreases in high-cost area county limits, some county limits stayed the same as 2017. Loan limits for all counties can be located at http://www.fhfa.gov/DataTools/Downloads/Pages/Conforming-Loan-Limits.aspx. For 2 to 4-unit properties, the applicable county limit for VA loan purposes is the one-unit limit.

If you have any questions, please contact your sales relationship manager.


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