2018 Maximum Conforming Loan Limits for VA Home Loans
The Federal Housing Finance Agency (FHFA) announced the maximum conforming loan limits for mortgages in 2018. In most of the U.S., the 2018 maximum conforming loan limit for one-unit properties will be $453,100, an increase from $424,100 in 2017.
This is important because the conforming loan limit is the maximum amount the VA will guarantee when you are using a VA home loan. In other words, in most places you’ll be able to use a VA home loan to purchase a house that now costs up to $453,100. You can still use a VA loan to purchase a house above this loan limit, but you may have to provide a down payment for any amount that exceeds this limit.
High-Cost Area Limits
For some areas the loan limit will be higher. The new ceiling loan limit for one-unit properties in most high-cost areas will be $679,650 — or 150 percent of $453,100.
Special statutory provisions establish different loan limit calculations for Alaska, Hawaii, Guam, and the U.S. Virgin Islands. In these areas, the baseline loan limit will be $679,650 for one-unit properties, but loan limits may be higher in some specific locations.
For a list of the 2018 maximum loan limits for all counties and county-equivalent areas in the U.S. click here.
For a map showing the 2018 maximum loan limits across the U.S. click here.