FHA VA Conforming Loan Limits 2023

DC Conforming Loan Limits Top $1M

2023 Conforming Loan Limits | DC Hits Historic High

2023 Conforming loan limits for Washington DC

Single Unit $1,089,300
2 Units $1,394,775
3 Units $1,685,850
4 Units $2,095,200

Mortgage giants Fannie Mae and Freddie Mac raised the limits of government-backed loans to a record level for 2023, as announced by the Federal Housing Finance Agency today.

The baseline conforming loan limit for 2023 will be $726,200.

For areas in which 115% of the local median home value exceeds the baseline conforming loan limit, the applicable loan limit will be higher than the baseline loan limit. HERA establishes the high-cost area limit in areas such as the District of Columbia as a multiple of the area median home value, while setting the ceiling at 150% of the baseline limit. Median home values generally increased in high-cost areas in 2022, which increased their CLL.

The new ceiling loan limit for one-unit properties in Washington DC will be $1,089,300, which is 150% of $726,200.

Here’s a map of loan limits across the country. Hover over an area to see its value:

Conforming Loan Limits

What is a conforming loan?

It’s the highest loan amount for mortgages that can be acquired via Fannie Mae or Freddie Mac. Mortgages above these limit are known as ‘jumbo loans’. The CLL values are set by the Federal Housing Finance Agency (FHFA) on an annual basis and vary geographically, using guidelines specified in the Housing and Economic Recovery Act of 2008 (HERA) and as modified in subsequent legislation.

When do the new limits become effective?

Updated at the end of each November, the new CLL values take effect a month later, on January 1st.

Are FHA and VA Loans Conforming?

No. A conforming loan meets the guidelines to be sold to either Fannie Mae or Freddie Mac, two of the largest mortgage buyers in the U.S. Non-conforming loans fall outside those guidelines, so they can’t be sold to Fannie Mae or Freddie Mac. Government-backed loans, including VA, USDA, and FHA loans, are also considered non-conforming.
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