The Federal Housing Finance Agency (FHFA) has announced 2023 loan limits for FNMA and FHLMC agency loans.
*This announcement supersedes REMN’s former announcement number 2022-16 regarding temporary 2023 loan limits
|
Units |
Baseline Loan Limits | |
|
Contiguous States, District of Columbia, and Puerto Rico |
Alaska, Guam, Hawaii, and U.S. Virgin Islands |
|
|
One |
$726,200 | $1,089,300 |
|
Two |
$929,850 |
$1,394,775 |
| Three | $1,123,900 |
$1,685,850 |
| Four | $1,396,800 |
$2,095,200 |
|
Units |
High-Cost Area Loan Limits* |
|
|
Contiguous States, District of Columbia, and Puerto Rico |
Alaska, Guam, Hawaii, and U.S. Virgin Islands |
|
|
One |
$1,089,300 |
Not Applicable |
|
Two |
$1,394,775 |
|
|
Three |
$1,685,850 |
|
|
Four |
$2,095,200 |
|
*Alaska and Hawaii high-cost limits have not been implemented by FHFA, which means loan limits in these states must conform to the general loan limits.
FHFA’s announcement can be accessed here.
The 2023 loan limits may be applied to new submissions and all loans currently in the pipeline. Loans are eligible to close with the new 2023 limits. AUS engines will be updated the weekend of December 3rd to incorporate the new limits.
Until DU and LPA have been updated, loans submitted to DU or LPA prior to the system updates that exceed the current 2022 limits will receive an “Approve/Ineligible” or “Accept/Ineligible” finding due to the loan amount exceeding the 2023 limit.
Please contact your Account Executive if you have additional questions.