2019 will bring higher conforming loan limits for homes located in King, Snohomish and Pierce Counties. Loan amounts over a conforming loan amount for which the property is located in is considered \u201cnon-conforming\u201d or a \u201cjumbo\u201d mortgage.<\/p>\n
For 2019, the conforming loan limits for King, Pierce and Snohomish Counties are:<\/p>\n
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- One Unit: $726,525<\/li>\n
- Two Unit: $930,300<\/li>\n
- Three Unit: $1,234,475<\/li>\n
- Four Unit: $1,397,400<\/li>\n<\/ul>\n
Technically, the loan limits for King, Snohomish and Pierce Counties are called \u201chigh balance conforming\u201d as the loan limits are higher than the \u201ctrue\u201d conforming loan limits (which the rest of the state has for conforming loan limits).<\/p>\n
For homes located in Washington state in any other county, the conforming loan limits are:<\/p>\n
- \n
- One Unit: $484,350<\/li>\n
- Two Unit: $620,200<\/li>\n
- Three Unit: $749,650<\/li>\n
- Four Unit: $931,600<\/li>\n<\/ul>\n
When structuring your mortgage scenario, it may be more beneficial to have a \u201ctrue conforming\u201d loan amount vs. a high balance mortgage depending on your scenario and how rates are currently priced. It\u2019s not unusual to see jumbo rates more favorable than \u201chigh balance\u201d or \u201ctrue\u201d conforming. It\u2019s important to work with a licensed local loan officer who will check out the various options that may be available to you.<\/p>\n
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