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View limits for VA | FHA | conforming

Summary: This page includes the 2020 conforming loan limits for all Washington State counties, with some additional commentary about how and why these caps are set. Home loans that exceed the maximum amounts shown below are considered “jumbo” mortgages.

Effective December 2019 Sammamish Mortgage has expanded our high balance conforming loans to $741,750 regardless of the county loan limit. This allows our clients to avoid the tighter loan guidelines and higher rates and costs generally associated with Jumbo Loans including options with less than 20% down.  

At a glance: The current single-family conforming loan limit for most counties in Washington State is $510,400 (an increase over the 2019 cap of $484,350 ). In the more expensive Seattle-area counties of King, Pierce, and Snohomish, the single-family loan limit has been increased to $741,750 for 2020.

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2020 Conforming Loan Limits for Washington State

The table below shows conforming loan limits for all Washington counties, and for all four property types. Note: a “1-unit” property is a single-family home with one resident. The “2-unit” column applies to duplex-style properties with two separate residents, and so on. If you’re buying a single-family home or condo in Washington State, refer to the “1-unit” conforming loan limit column.

County1-Unit2-Unit3-Unit4-Unit
ADAMS$510,400$653,550$789,950$981,700
ASOTIN$510,400$653,550$789,950$981,700
BENTON$510,400$653,550$789,950$981,700
CHELAN$510,400$653,550$789,950$981,700
CLALLAM$510,400$653,550$789,950$981,700
CLARK$510,400$653,550$789,950$981,700
COLUMBIA$510,400$653,550$789,950$981,700
COWLITZ$510,400$653,550$789,950$981,700
DOUGLAS$510,400$653,550$789,950$981,700
FERRY$510,400$653,550$789,950$981,700
FRANKLIN$510,400$653,550$789,950$981,700
GARFIELD$510,400$653,550$789,950$981,700
GRANT$510,400$653,550$789,950$981,700
GRAYS HARBOR$510,400$653,550$789,950$981,700
ISLAND$510,400$653,550$789,950$981,700
JEFFERSON$510,400$653,550$789,950$981,700
KING$741,750$949,600$1,147,800$1,426,450
KITSAP$510,400$653,550$789,950$981,700
KITTITAS$510,400$653,550$789,950$981,700
KLICKITAT$510,400$653,550$789,950$981,700
LEWIS$510,400$653,550$789,950$981,700
LINCOLN$510,400$653,550$789,950$981,700
MASON$510,400$653,550$789,950$981,700
OKANOGAN$510,400$653,550$789,950$981,700
PACIFIC$510,400$653,550$789,950$981,700
PEND OREILLE$510,400$653,550$789,950$981,700
PIERCE$741,750$949,600$1,147,800$1,426,450
SAN JUAN$510,400$653,550$789,950$981,700
SKAGIT$510,400$653,550$789,950$981,700
SKAMANIA$510,400$653,550$789,950$981,700
SNOHOMISH$741,750$949,600$1,147,800$1,426,450
SPOKANE$510,400$653,550$789,950$981,700
STEVENS$510,400$653,550$789,950$981,700
THURSTON$510,400$653,550$789,950$981,700
WAHKIAKUM$510,400$653,550$789,950$981,700
WALLA WALLA$510,400$653,550$789,950$981,700
WHATCOM$510,400$653,550$789,950$981,700
WHITMAN$510,400$653,550$789,950$981,700
YAKIMA$510,400$653,550$789,950$981,700

How These Limits Are Set

Washington State conforming loan limits are determined by the Federal Housing Finance Agency (FHFA). The Housing and Economic Recovery Act of 2008 (HERA) requires the FHFA to monitor and track average home prices in the U.S., and to annually adjust the baseline jumbo loan limit as needed to reflect changes in national home values.

In other words, if prices go up considerably in a certain county, FHFA may increase the corresponding loan limits to keep pace with rising home values. That’s what happened from 2018 to 2019. Conforming limits are usually set at 115% of the median home price for each area, though they can exceed this level in some high-cost areas.

The 2020 conforming limit for most counties in Washington State will be $510,400. The three exceptions to this baseline amount are King, Pierce, Snohomish counties. (See the table above for county-by-county details.)

In recent years, FHFA has used the median home values estimated by the Federal Housing Administration (FHA), which is part of HUD. So there are several federal housing agencies involved in determining loan limits.

Why They Were Increased for 2020

In October 2019, we predicted that federal housing officials would increase the Seattle jumbo loan threshold in response to significant home-price gains that occurred during the year. That prediction turned out to be accurate. In fact, the FHFA raised limits across most of the country.

According to a November 2019 news release from FHFA:

“As a result of generally rising home values, the increase in the baseline loan limit, and the increase in the ceiling loan limit, the maximum conforming loan limit will be higher in 2020 in all but 47 counties or county equivalents in the U.S.

So the vast majority of counties across the U.S. will see higher caps in 2020, compared to 2019. Home prices nationally rose by an average of around 3.4% during 2019. In Washington, the median house value rose by around 4.0% as of December 2019, compared to a year earlier. That is why we are seeing higher Washington State conforming loan limits in 2020.

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