Selling Reno And Sparks Real Estate Blog


New Conforming Loan Limits Coming In 2018

The Federal Housing Finance Agency (FHFA)  announced yesterday the maximum conforming loan limits for mortgages to be acquired by Fannie Mae and Freddie Mac in 2018. In most of the U.S., (Alaska and Hawaii the loan limit will be $679,650), 2018 maximum conforming loan limit for one-unit properties will be $453,100, an increase from $424,100 in 2017. This is the second time the FHFA has increased the baseline loan limit since 2006, the first time was 2017.

This is great news for Nevada home buyers as our home prices are on a continual trend upward. According to FHFA's expanded-data Home Price Index, house prices increased, all across the U.S., 6.8 percent, on average, between the third quarters of 2016 and 2017. As a result, the baseline maximum conforming loan limit in 2018 was adjusted to increase.

Most jumbo loans, homes priced over $453,100 (the new 2018 loan limit) are difficult to qualify for.  Buyers need a large down payment along with excellent credit. Many applicants would rather stay within conforming limits -- especially if they don't have perfect credit or a ton of money saved.

Currently, the Reno, NV medium home price is $439,900. If you are applying for a home loan in Nevada, you would need a jumbo loan with a minimum of 20% down and a 740 or higher credit score. In 2018, eligible home buyers can get a very large mortgage at ultra-low rates with a down payment as little as 3%.

If you are thinking about buying a home in 2018 and would like to get an early jump on the home buying process, I recommend you meet with your lender to start the process. If you are new to the area and need a recommendation for a lender, give me a call for a list of our preferred lenders. I am happy to help you get started! Reach me by Cell at 775-846-5424 or email me 


Terrie Leighton

Certified Distressed Property Expert (CDPE)
Certified Default Resolution Specialist (CDRS)
Short Sales & Foreclosure Resource ~ Certified (SFR)
NAR's Green Designation ~ Certified Green
Certifed Negotiation Expert (CNE)

Ferrari-Lund Real Estate

 Cell ~ 775.846.5424

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Comment balloon 2 commentsTerrie Leighton • November 29 2017 06:05PM


Terrie hello.

These are good news as housing prices are still climbing. 

Posted by Shahar Hillel, Mortgage Consultant, Loan Officer. (Augusta Financial Inc.) 4 months ago

The baseline limit, which affects most markets, will increase by 6.8% to $453,100. Loan limits in markets designated as "high cost areas" like mine, will increase to $679,650.

Posted by Inna Ivchenko, Realtor® • Green • GRI • HAFA • PSC Los Angeles CA (Barcode Properties) 4 months ago

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