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Higher Mortgage Loan Limits for 2017

Higher Mortgage Loan Limits for 2017

Michael Jensen, Mortgage and Finance Guru
, Mortgage and Finance Guru

2017 brings higher loan limits across the board for conforming, FHA and VA mortgages.  This is the first year since 2006 that the standard loan limits increased for these mortgage programs.  The higher loan limits reflect a recovering housing market and modest home price appreciation over the past several years.  After eight long years, the housing market appears to have finally dug itself out of its deep hole.

The higher loan limits should expand the number of borrowers who can access conforming, FHA and VA mortgages which is beneficial as home prices continue their gradual rise across the country.  

FREEandCLEAR offers a number of resources that enable you to check updated 2017 loan limits including Conforming, FHA and VA Loan Limit Calculators.  Below, we summarize the loan limit changes for each of these mortgage programs and highlight the FREEandCLEAR tools you can use to determine the 2017 loan limit for your county.

2017 Conforming Loan Limits

In the contiguous United States and Puerto Rico, the general conforming loan limit for a single unit property increases from $417,000 to $424,100 in 2017.  The 2017 conforming loan limit for a single unit property in a high cost area increases to $636,150.  The conforming loan limit for a four unit unit property ranges from a standard limit of $815,000 to $1,223,475 in high cost areas.

In Alaska, Hawaii, Guam and the U.S. Virgin Islands, the general 2017 conforming loan limit for a single unit property is $636,150 while the loan limit in high cost areas is $954,225.  The 2017 conforming loan limit for a four unit unit property ranges from a standard limit of $1,223,475 to $1,835,200 in high cost areas.

FREEandCLEAR Resources

2017 FHA Loan Limits

In the contiguous United States and Puerto Rico, the basic standard FHA loan limit for a single unit property increases from $271,050 to $275,665 in 2017.  The 2017 FHA loan limit for a single unit property in a high cost area increases to $636,150.  The FHA loan limit for a four unit unit property ranges from a basic standard limit of $530,150 to $1,223,475 in high cost areas.

In Alaska, Hawaii, Guam and the U.S. Virgin Islands, the general 2017 FHA loan limits range from $636,150 for a single unit property to $1,835,200 for a four unit property.

FREEandCLEAR Resources

2017 VA Loan Limits

In the contiguous United States and Puerto Rico, the 2017 basic standard VA loan limit is $424,100 and the high cost area VA loan limit is $636,150.  In Alaska, Hawaii, Guam and the U.S. Virgin Islands, the 2017 VA loan limits range from a basic standard limit of $636,150 to $954,225 in high cost areas.

FREEandCLEAR Resources

As always, all the resources on FREEandCLEAR are free to use.  We encourage you to use our tools to understand how the 2017 loan limits apply to you and share your feedback.  We always welcome input on how to improve FREEandCLEAR for our users.

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About the author

Michael Jensen, Mortgage and Finance Guru

Michael is the co-founder of FREEandCLEAR. Michael possesses extensive knowledge about mortgages and finance and has been writing about mortgages for nearly a decade. His work has been featured in leading national and industry publications. More about Michael

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