Effective December 7th, PHH will begin accepting new locks that meet the Federal Housing Finance Agency (FHFA) 2023 loan limits for Conventional Loans.
The following table contains the baseline loan limits for 2023:
General Loan Limits:
| Units | Contiguous States, District of Columbia, and Puerto Rico | Alaska and Hawaii |
|---|---|---|
| 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 |
High-Cost Area Loan Limits:
** The high-cost area loan limits are established for each county (or equivalent) and are published on Fannie Mae’s website and on FHFA’s website. The following table contains the ceiling for the high-cost area limits for 2023.
| Units | Contiguous States, District of Columbia, and Puerto Rico | Alaska and Hawaii |
|---|---|---|
| One | $1,089,300 | Not Applicable |
| Two | $1,394,775 | |
| Three | $1,685,850 | |
| Four | $2,095,200 |
Updated loan limits for FHA and VA loans will be announced upon notification from GNMA.
If you have any questions, please contact your your Correspondent Specialist, Sales Executive, or contact us via the support line at 800-929-4744.
Thank you for your continued business.
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