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$726,200 is The New Loan Limit for 2023; High Cost Counties Now Over $1m

$726,200 is The New Loan Limit for 2023; High Cost Counties Now Over $1m

November 29, 2022
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If you're just here for the conforming loan limit news, $726,200 is the number for 2023.   Does this mean no one can get a mortgage for more than $726,200?  No.  The conforming loan limit is the maximum amount that can be guaranteed by Fannie Mae and Freddie Mac (the government-sponsored enterprises or GSEs).  That guarantee has advantages in terms of the loan approval process and interest rates .  There are plenty of mortgage options for higher amounts or that are not guaranteed by the GSEs, but conforming loans account for a vast majority of new mortgages. $726,200 is the base amount.  Higher cost areas have access to higher limits based on the average home prices in that area.  The county by county limits are listed separately, HERE . The highest tier is $1,089,300 (base loan l
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