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View limits for: VA | FHA | conforming

 

This page includes the 2018 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 April 2018 Sammamish Mortgage has expanded our high balance conforming loans to $679,650 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 $453,100 (an increase over the 2017 cap of $424,100). In the more expensive Seattle-area counties of King, Pierce and Snohomish, the single-family loan limit has been increased to $667,000 for 2018. San Juan County will remain unchanged at $483,000.

See Our Flex-Cost Mortgage Options

2018 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$453,100$580,150$701,250$871,450
ASOTIN$453,100$580,150$701,250$871,450
BENTON$453,100$580,150$701,250$871,450
CHELAN$453,100$580,150$701,250$871,450
CLALLAM$453,100$580,150$701,250$871,450
CLARK$453,100$580,150$701,250$871,450
COLUMBIA$453,100$580,150$701,250$871,450
COWLITZ$453,100$580,150$701,250$871,450
DOUGLAS$453,100$580,150$701,250$871,450
FERRY$453,100$580,150$701,250$871,450
FRANKLIN$453,100$580,150$701,250$871,450
GARFIELD$453,100$580,150$701,250$871,450
GRANT$453,100$580,150$701,250$871,450
GRAYS HARBOR$453,100$580,150$701,250$871,450
ISLAND$453,100$580,150$701,250$871,450
JEFFERSON$453,100$580,150$701,250$871,450
KING$667,000$853,900$1,032,150$1,282,700
KITSAP$453,100$580,150$701,250$871,450
KITTITAS$453,100$580,150$701,250$871,450
KLICKITAT$453,100$580,150$701,250$871,450
LEWIS$453,100$580,150$701,250$871,450
LINCOLN$453,100$580,150$701,250$871,450
MASON$453,100$580,150$701,250$871,450
OKANOGAN$453,100$580,150$701,250$871,450
PACIFIC$453,100$580,150$701,250$871,450
PEND OREILLE$453,100$580,150$701,250$871,450
PIERCE$667,000$853,900$1,032,150$1,282,700
SAN JUAN$483,000$618,300$747,400$928,850
SKAGIT$453,100$580,150$701,250$871,450
SKAMANIA$453,100$580,150$701,250$871,450
SNOHOMISH$667,000$853,900$1,032,150$1,282,700
SPOKANE$453,100$580,150$701,250$871,450
STEVENS$453,100$580,150$701,250$871,450
THURSTON$453,100$580,150$701,250$871,450
WAHKIAKUM$453,100$580,150$701,250$871,450
WALLA WALLA$453,100$580,150$701,250$871,450
WHATCOM$453,100$580,150$701,250$871,450
WHITMAN$453,100$580,150$701,250$871,450
YAKIMA$453,100$580,150$701,250$871,450

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 2017 to 2018. 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 2018 conforming limit for most counties in Washington State will be $453,100. That’s an increase of $29,000 from the 2017 cap of $424,100. The four exceptions to this baseline amount are King, Pierce, Snohomish and San Juan 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 2018

In September 2017, we predicted that federal housing officials would the Seattle jumbo loan limits 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 the entire country.

According to a November 28, 2017 news release from FHFA:

“As a result of generally rising home values … the maximum conforming loan limit will be higher in 2018 in all but 71 counties or county equivalents in the U.S.

So the vast majority of counties across the U.S. will see higher caps in 2018, compared to 2017. Home prices nationally rose by an average of around 6.5% during 2017. In Washington, the median house value rose by around 10%, according to Zillow. That is why we are seeing higher Washington State conforming loan limits in 2018.

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