The FHFA Home Price Index revealed that nationally home values increased by 12.21% which is why conforming loan amounts increased so much. Denver’s home values only increased by 8.7%. It’s good to see us no longer lead the appreciating train.
The federal government released their new 2023 conforming loan limits.
· Fannie & Freddie increased their national conforming loan limit to $726,200.
· Their High Balance loan limit for metro Denver is $787,750. Boulder County’s high balance limit is $856,750.
· These new loan limits are effective NOW.
FHA also raised their loan limits but their limits can really vary outside of metro Denver.
· Metro Denver loan limit is $787,750.
· El Paso County limit is only $517,500
· Weld County limit is $555,450
· Larimer County is $614,200
· Bouider County is $856,750.
· These new loan limits go into effect with new FHA Case Numbers issued January 1st or later.
And remember VA has no loan limits anymore.