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 |
---|---|
1 | $424,100 |
2 | $543,000 |
3 | $656,350 |
4 | $815,650 |
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 |
---|---|
1 | $636,150 |
2 | $814,500 |
3 | $984,525 |
4 | $1,223,475 |
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.