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Conventional Loan Limits 2017

Posted on November 28, 2016 by Ray Williams (NMLS #216267).

The wait is over Denver and Colorado. We have been asked numerous times in the last 30 days. It looks like conventional loan limits 2017 will be up nationwide which will show additional signs of a strengthening housing market. The national conforming loan limits for 2017 will be $424,100 (up slightly from $417,000).

Drum roll please…..

The FHFA announced the 2017 Conventional Loan Limits, effective Jan 1, 2017.

With respect to Denver and the surrounding counties (Arapahoe, Douglas, Jefferson, Adams, Broomfield) there is more good news. Those loan limits for 1-Unit properties has been increased for the 3rd straight year (now $493.350). Boulder County ($529,000), El Paso ($424,100), Routt County, Summit County, Lake County ($625,500), Pitkin & Eagle County($636,150). Any county in Colorado considered High-Cost will have a higher loan limit like you see for the aforementioned counties. Any mortgage above these new 2017 conventional loan limits will fall under jumbo mortgages.

Number of UnitsMaximum base conforming loan limits for properties NOT in Alaska, Hawaii, Guam & U.S. Virgin IslandsMaximum base conforming loan limits for properties in Alaska, Hawaii, Guam & U.S. Virgin Islands
2017201620172016
1$424,100$417,000$636,150$625,500
2$543,000$533,850$814,500$800,775
3$656,350$645,300$984,525$967,950
4$815,650$801,950 $1,223,475$1,202,925

For super conforming mortgages secured by properties located in designated high-cost areas, we will purchase mortgages with original loan amounts up to the following limits:

Number of UnitsMaximum base conforming loan limits for properties NOT in Alaska, Hawaii, Guam & U.S. Virgin IslandsMaximum base conforming loan limits for properties in Alaska, Hawaii, Guam & U.S. Virgin Islands
2017201620172016
1$636,150$625,500$954,225$938,250
2$814,500$800,775$1,221,750$1,201,150
3$984,525$967,950$1,476,775$1,451,925
4$1,223,475$1,202,925$1,835,200$1,804,375

If you have further questions about your county and don’t see information here, feel free to reach out to us. You can also read more here: 2017 Loan Limits

 

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