Conforming Loan Limits Higher For 2023

Some lenders were recently funding loans higher than the actual 2022 loan limits, with all indications that the loan limits would be higher for 2023. The true loan limits have now been released.

The Federal Housing Finance Agency (FHFA) announced the conforming loan limit values (CLLs) for mortgages to be acquired by Fannie Mae and Freddie Mac in 2023. In most of the United States, the 2023 CLL value for one-unit properties will be $726,200, an increase of $79,000 from $647,200 in 2022.​

 According to the nominal, seasonally adjusted, expanded-data FHFA HPI, house prices increased 12.21 percent, on average, between the third quarters of 2021 and 2022. Therefore, the baseline CLL in 2023 will increase by the same percentage.​

The high cost areas like Los Angeles the applicable loan limit will be higher than the baseline loan limit. The High Balance Loan Amount (amount higher than the baseline loan limit) is based by county and will generally have slightly higher interest rates. Also the loan limits are higher for 2 – 4 units

Base Loan Limits
One Unit $726,200
Two Units $929,850
Three Units $1,123,900
Four Units $1,396,800

Los Angeles County Limits
One Unit $1,089,300
Two Units $1,394,775
Three Units $1,685,850
Four Units $2,095,200

Ventura County Limits
One Unit $948,750
Two Units $1,214,600
Three Units $1488,150
Four Units $1,824,550

List of conforming loan limits for all counties and county-equivalent areas in the U.S.

If you are in the Los Angeles area and have any questions or real estate sales or financing needs, feel free in contacting me

Ron Henderson GRI, SRES, SFR, RECS, CIAS
President/Broker
Multi Real Estate Services, Inc.
Gov’t Affairs Chair – California Association of Mortgage Professionals (2017-2018)
Chairman – OutWest Marketing Meeting (Real Estate Education)
BRE #00905793 NMLS #310358
www.mres.com
ronh@mres.com
Specialist in the Art of Real Estate Sales and Finance
Real Estate market, mortgage rates, Los Angeles, San Fernando Valley, Conejo Valley, Simi Valley, Woodland Hills, West Hills, Calabasas, Chatsworth