Fannie Mae’s Loan Limits to increase in 2018

Fannie Mae has issued Lender Letter LL-2017-10 to confirm the general and high-cost area loan limits announced by the Federal Housing Finance Agency (FHFA). The new loan limit in most of the country will be $453,100, which represents a 6.8 percent increase over the 2017 limit. All but 71 counties (or county equivalents) will see a loan limit increase.

The new limits are effective for whole loans delivered to Fannie Mae and loans in MBS pools with issue dates on or after Jan. 1, 2018.

I have listed the loan limits for Spokane County below:

2018 Loan Limit for a 1 Unit Dwelling: $453,100

2018 Loan Limit for a 2 Unit Dwelling: $580,150

2018 Loan Limit for a 3 Unit Dwelling: $701,250

2018 Loan Limit for a 4 Unit Dwelling: $871,450