2018 Maximum Conforming Loan Limits for VA Home Loans

by | 20Dec2017 | Real estate, Uncategorized, VA loans | 0 comments

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.

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