GSE and FHA Loan Limits Raised for 2017

On November 23, 2016, the Federal Housing Finance Agency ("FHFA") released the 2017 conforming loan limits for Fannie Mae and Freddie Mac. The national conforming loan limit was raised to $424,100 while the limit in the most costly areas was raised up to $636,150. On December 1, 2016, the Federal Housing Administration ("FHA") released its 2017 Loan Limits. In high-cost areas the FHA national loan limit "ceiling" will increase to $636,150 from $625,500. FHA will also increase its "floor" to $275,665 from $271,050. The standard loan limit for lower cost metropolitan areas will increase from $271,050 to $275,665. The increases are due to a rise in housing prices across the country. Loan limits increased in 2,948 counties, loan limits remain unchanged in 286 counties and no counties faced a loan limit decrease.