Great news, conforming loan limits are increasing in 2017! We haven’t had an increase since 2006. (!) The new conforming loan limit will be $424,100, up from $417,000. With this increase, the high-balance loan limit will increase per county as well. For Bay Area counties, that will be the ceiling amount of $636,150. If you want to check and confirm your county limit, you can check here.
|UNITS||MAX CONFORMING LOAN LIMIT|
And the ceiling limit for counties is as follows. Bay Area Counties fall in this max high-cost limit range:
|UNITS||MAX HIGH COST AREA LOAN LIMIT|
It’s a relatively small amount, but any little bit can help, especially if you’re trying to put as little down on a purchase, but need to remain within limits.