The Federal Housing Finance Agency (FHFA) recently announced the conforming loan limits for residential mortgage loans acquired by Fannie Mae and Freddie Mac in 2023. Fannie Mae addresses the limits in Lender Letter 2022-06.

As was expected based on the significant increase in housing prices during 2022, the limits increased substantially.  The standard loan limit for a one-unit home increased from $647,200 in 2022 to $726,200 for 2023. For high-cost areas, and also for Alaska, Guam, Hawaii and the U.S. Virgin Islands, the loan limit for a one-unit home increased from $970,800 for 2022 to $1,089,300 for 2023.

The FHFA announcement that is linked above includes links to:

  • A list of conforming loan limits for all counties and county-equivalent areas in the U.S.
  • A map showing the conforming loan limits across the U.S. 
  • A detailed addendum of the methodology used to determine the conforming loan limits.
  • A list of FAQs that covers broader topics that may be related to conforming loan limits.

Fannie Mae advises that the loan limits apply to the original loan balance, and not the loan balance at the time of delivery.