Home Loan Limits for 2023
Home Loan Limits typically change each year based on housing price trends. The FHFA or Federal Housing Finance Agency sets the conforming loan limits each year, which are then used by Fannie Mae and Freddie Mac to establish their limits for 1-4 unit homes such as Single Family Homes, Condominiums, Townhomes, PUDS, attached homes, Manufactured Homes, Duplexes, Triplexes, and Quadplexes.
VA home loan limits are a bit different. First off, they are based on the single family conforming home loan limit, yet the limit applies to all VA homes including 2-4 unit purchases. VA Loans for Veterans with full VA Entitlement available are actually not limited by the VA Loan Limits anymore. You do have to qualify for the payment. So why does the VA even post VA loan limits? When a Veteran home purchaser or refinancer has a charge against VA entitlement (aka partial VA entitlement available), we need to calculate your VA eligibility based on a formula of your remaining VA Entitlement, the county VA loan limit where the home is located and your purchase price, or appraised value for a VA Refinance. VA Loans can be used to purchase Single Family Homes, Condominiums, Townhomes, PUDS, attached homes, Manufactured Homes, Duplexes, Triplexes, and Quadplexes.
FHA Loan Limits are set annually as well by HUD. They factor in the base FHA floor loan limit as well as the maximum FHA Loan Limit for high-cost areas. The loan limits are available for 1-4 unit homes including Single Family Homes, Condominiums, Townhomes, PUDS, attached homes, Manufactured Homes, Duplexes, Triplexes, and Quadplexes.
USDA RD Guaranteed Home Loans don't have a formal Loan Limit, however they are capped at the Conforming Loan Limit for the county the home is located in.
Jumbo Loans and Super Jumbo Loans have limits as high as $3m for Jumbo Home Loans and $10m for Super Jumbo Home Loans. Jumbo and Super Jumbo Loans are typically full income documentation loans. We also have alternative income documentation loans and Jumbo Loans that include Bank Statement Loans, ITIN loans, Foreign National Loans, DSCR Investor Cash Flow Loans, Asset Depletion Loans, and 2nd Chance Loans that allow for Bankruptcy, Foreclosure, or Short Sales as little as 1 yr after the event. These are also called "near miss loans", as the negative credit event is just outside standard loan parameters.
Conforming Loan Limits for 2023: (this includes Fannie Mae and Freddie Mac 1-4 unit conforming/conventional home loans)
| Conforming Loan Limits for 2023 |
Single Family - 1 unit |
Duplex 2unit |
Triplex 3 unit |
Quadplex 4 unit |
| Nationwide 2023 Conforming Loan Limit |
$726,200 |
$929,850 |
$1,123,900 |
$1,396,800 |
| Nationwide 2023 High Cost Area Loan Limit max |
$1,089,300 |
$1,394,775 |
$1,685,850 |
$2,095,200 |
It is important to note that some counties may fall between the Nationwide minimum loan limit and the maximum. 2 examples are Seattle's King County and San Diego County which are both at $977,500 for single family / 1 unit homes in 2023.
VA Loan Limits for 2023:
| VA Loan Limits for 2023 |
Single Family - 1 unit, and 2-4 units |
| Loan Limit for Veterans with Full VA Entitlement |
$2,000,000 (no down payment requirement for qualified Veterans) |
| Loan Limit for Veterans with Partial VA Entitlement |
$2,000,000 * |
| VA County Loan Limit - Nationwide minimum |
$726,200 |
| VA County Loan Limit - Nationwide high cost area max |
$1,089,300 |
It is important to note that some counties may fall between the Nationwide minimum loan limit and the maximum. 2 examples are Seattle's King County and San Diego County which are both at $977,500 for VA Loan limits in 2023.
* down payment requirement will vary based on your remaining VA Entitlement, the county VA Loan Limit where the home is located, and the purchase price or appraised value for refinances.
FHA Loan Limits for 2023:
| FHA Loan Limits for 2023 |
Single Family - 1 unit |
Duplex 2unit |
Triplex 3 unit |
Quadplex 4 unit |
| Nationwide 2023 FHA Floor Loan Limit |
$472,030 |
$604,400 |
$730,525 |
$907,900 |
| Nationwide 2023 High Cost Area FHA Loan Limit |
$1,089,300 |
$1,394,775 |
$1,685,850 |
$2,095,200 |
It is important to note that some counties may fall between the Nationwide minimum FHA loan limit and the maximum. 2 examples are the Seattle area and San Diego County which are both at $977,500 for FHA single family / 1 unit homes in 2023.
USDA Loan Limits for 2023:
| USDA RD Guaranteed Loan Limits for 2023 |
Single Family - 1 unit |
| Nationwide 2023 USDA RD Guaranteed Loan Limit |
$726,200 |
Jumbo Loan Limits for 2023:
| Jumbo Loan Limits for 2023 |
Single Family - 1 unit |
Duplex 2unit |
Triplex 3 unit |
Quadplex 4 unit |
| 2023 Jumbo Loan Limit |
$3,000,000 |
$3,000,000 |
$3,000,000 |
$3,000,000 |
2023 Super Jumbo Loan Limit
|
$10,000,000 |
$10,000,000 |
$10,000,000 |
$10,000,000 |
| 2023 Self Employed Bank Statement Loan Limit |
$3,000,000
|
$3,000,000
|
$3,000,000
|
$3,000,000
|
| 2023 DSCR Investor Cash Flow Loan Limit |
$3,000,000
|
$3,000,000
|
$3,000,000
|
$3,000,000 |
| 2023 ITIN Loan Limit |
$3,000,000 |
$3,000,000
|
$3,000,000 |
$3,000,000
|
| 2023 Asset Depletion Loan Limit |
$3,000,000
|
$3,000,000
|
$3,000,000
|
$3,000,000
|
| 2023 Foreign National Loan Limit |
$3,000,000
|
$3,000,000
|
$3,000,000
|
$3,000,000
|
| 2023 2nd Chance Loan Limit |
$3,000,000
|
$3,000,000
|
$3,000,000
|
$3,000,000
|
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Loan Limits by State, County and loan type:
Conforming Loan Limits (Fannie Mae and Freddie Mac):
CA, WA
FHA Loan Limits:
CA, TN, WA,
VA Loan Limits:
CA, CO, WA, WY
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