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Conforming Loan Limits Set to Increase to $726,000 in 2023

Conforming loan limits are set to increase to $726,000 next year. That’s a 12-percent increase in the conforming loan limit. 

What does that mean? 

That means that your typical conventional mortgages can now go up to $726,000 without being considered a jumbo loan. 

For the longest time, from 2006 to 2017, our conforming loan limits were $417,000 for pretty much the entire country. But as we have seen, home prices continue to increase, and Fannie and Freddie have raised the conforming loan limit year after year since 2017. 

Next year, based on that increase, we will see conforming loan limits in most of the country go to $726 000, which is actually a good thing because this allows many people in parts of the country where home prices have gone up to still qualify for that conventional conforming loan limit. 

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