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Maximum Loan Amounts and Jumbo Loans

Since these change periodically and vary by area and county, this will be an attempt to answer more local information for Oregon and Washington and will point you a direction for getting the question of loan amounts answered as well as possible. Anything above the limits for conventional loans constitutes a Jumbo.

Jumbo and Super Jumbo Loan Amounts

Jumbo products vary by the investor that funds them. Typically their upper loan limit will be up to $2.5M – $4.0M. Beyond that, they would be considered a Super Jumbo and are usually only provided by a limited number of special investors.

Conforming Conventional Loans:

In some areas loan limits are stretched because they are considered higher cost areas and therefore have higher limits. This applies to both conventional and FHA loans. See the appropriate charts below for further information.

Baseline Loan Limits for the United States and its territories for 2023

Number of UnitsContiguous State, Dist. Of Columbia and Puerto RicoAlaska, Guam, Hawaii, and U.S. Virgin Islands
One$726,200$1,089,300
Two$929,850$1,394,775
Three$1,123,900$1,685,850
Four$1,396,800$2,095,200

High-Cost Area Loan Limits for the United States and its territories for 2023

Number of UnitsContiguous State, Dist. Of Columbia and Puerto RicoAlaska, Guam, Hawaii, and U.S. Virgin Islands
One$1,089,300N/A
Two$1,394,775N/A
Three$1,685,850N/A
Four$2,095,200N/A

To find out what areas are subject to the high cost limit, use the Fannie Mae Area Median Income Lookup Tool If you put in an address it will give you information on that area about whether or not it is a high cost area as well as income limits for HomeReady and other information specific to the area you are looking at.

FHA Loan Limits

For 2023 FHA has a nationwide ceiling of $1,089,300. This is the maximum nationwide claim amount for all areas, including HECM (commonly known as Reverse Mortgages for people over age 62). However, lending limits for FHA are set by county, so it will be necessary to look up an area to determine what the maximum available loan amount is. It is suggested that you go to the FHA Mortgage Limits lookup tool for information. All you need to do is put the county and state names in and it will give you a screen with the maximums. Note that the correct name under “Limit Type” should be auto filled for you as “FHA Forward”

VA Loans

Those eligible for a VA loan such as service members, veterans and survivors with a full entitlement have no limits on loans over $144,000. For more details on this you may visit the VA Home Loan Limits page.

USDA Mortgages

Note that USDA mortgages are not available in every county and are limited to particular eligible rural areas, as well as, limited to income maximums using their criteria for household income and other guidelines. To begin with understanding the loan limits you can go to the single family lookup tool to see if an area is an eligible area. Since income is limited to a 115% of the median household income, there isn’t a need for a loan limit and typically you can get a loan for up to 100% of the cost of the home.

For more details on loan amounts, areas of availability, rates, fees, guidelines and how you might qualify, if you are in a west coast state, please reach out and if not, find a local mortgage broker to help you navigate the waters of mortgage lending.

Kristin M Eklund NMLS #1872091
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