On this page
- What conventional loan limits are
- Conforming loan limits by number of units
- Conventional loan limits in high-cost counties
- How conventional loan limits are set and why they change
- How to find your county’s conventional loan limit
- Conventional vs. FHA, VA and USDA loan limits
- What happens above the limit
- Conventional loan limits FAQ
Conventional loan limits set the largest mortgage Fannie Mae and Freddie Mac can buy, and they vary by county. For a one-unit home, the limit is $832,750 in most of the country. In high-cost counties in most of the country, however, it rises to as much as $1,249,125. To find the figure for your county, use FHFA’s conforming loan limit page, which lists every county.
What conventional loan limits are
A conventional loan is a mortgage that no government agency insures or guarantees. A conventional loan can also be a conforming loan, which means it meets Fannie Mae and Freddie Mac rules, so either company could buy it. A loan that breaks those rules, for example by going over the limit, is a non-conforming loan.
Federal law caps the original loan amount that Fannie Mae and Freddie Mac can buy. That cap is the conforming loan limit. People also call it the conventional loan limit, because a conventional loan above it is non-conforming. Both names refer to the same figure.
The limit caps the loan amount. Your purchase price can be higher, as long as your down payment brings the loan back under your county’s limit.
Conforming loan limits by number of units
FHFA sets one baseline limit for most of the country and a higher ceiling for high-cost counties in most of the country. Both figures rise with the number of units, so a duplex or fourplex can carry a larger conforming loan.
| Units | Baseline (most counties) | High-cost ceiling (most of the country) |
|---|---|---|
| 1 | $832,750 | $1,249,125 |
| 2 | $1,066,250 | $1,599,375 |
| 3 | $1,288,800 | $1,933,200 |
| 4 | $1,601,750 | $2,402,625 |
These are the latest limits FHFA has published. FHFA announces each new set in November, and it applies to loans Fannie Mae and Freddie Mac acquire from January 1.
Most counties use the baseline column. For instance, in FHFA’s 2026 county list, all 254 Texas counties sit at the baseline. A county that falls between the two columns has its own limit, which FHFA calculates from local home values.
Conventional loan limits in high-cost counties
Where home values are high, the limit goes up. Under the federal formula, a county’s limit rises above the baseline when 115% of its median home value is greater than the baseline. In that case, the county limit equals 115% of the local median value, up to a cap of 150% of the baseline (12 U.S.C. 1717(b)(2)).
That cap is the high-cost ceiling in the table above. Because limits follow local home values, they land at many points between the baseline and the ceiling. Here are the one-unit limits for a few ZIP codes:
- Manhattan’s Upper East Side, New York (ZIP 10021): $1,209,750
- Boston, Massachusetts (ZIP 02199): $962,550
- Bernalillo County, New Mexico (ZIP 87190): $832,750
The multi-unit limits follow the county too. In ZIP 10021, for example, the limits are $1,548,975 for two units, $1,872,225 for three units and $2,326,875 for four units.
High-balance loans
Fannie Mae calls a conforming loan above the baseline in a high-cost county a high-balance loan. Under Selling Guide B5-1-01, it must meet the standard rules plus a few more: for instance, it must be a first-lien loan underwritten through Fannie Mae’s Desktop Underwriter. Fannie Mae also adds pricing adjustments and sets its own mortgage insurance and delivery rules for these loans in B5-1-02, so ask your lender whether your loan amount falls in this group.
Alaska, Hawaii, Guam and the U.S. Virgin Islands
Federal law allows a higher baseline in four places: Alaska, Hawaii, Guam and the U.S. Virgin Islands. In its 2026 release, FHFA set their baseline at 150% of the national baseline. In Anchorage (ZIP 99501), for example, the one-unit limit is $1,249,125. Some Hawaii counties can go higher still, because their local home values are high.
How conventional loan limits are set and why they change
The formula comes from the Housing and Economic Recovery Act of 2008 (HERA). It is written into 12 U.S.C. 1717(b)(2) for Fannie Mae and 12 U.S.C. 1454(a)(2) for Freddie Mac. Each year, FHFA adjusts the baseline by the change in its house price index (HPI), which tracks average U.S. home prices.
For example, FHFA’s release for the 2026 limits, dated November 25, 2025, used the expanded-data FHFA HPI. That index rose 3.26% between the third quarters of 2024 and 2025, so the 2026 baseline rose by the same percentage.
FHFA announces next year’s limits each November, usually late in the month. Then two rules decide the change:
- When prices rise: The baseline rises by the same percentage, and the 150% ceiling rises with it.
- When prices fall: The baseline does not drop that year. Instead, the decline carries forward and offsets later increases until prices recover.
County limits can also stay flat while the baseline climbs, because they follow local median values. In FHFA’s 2026 release, for instance, limits rose in all but 32 counties or county equivalents.
FHFA’s records show the baseline went from $33,000 in the early 1970s to $417,000 for 2006–2008. HERA later set the permanent formula used today.
How to find your county’s conventional loan limit
Your limit depends on the county where the property sits, and a city or ZIP code can cross county lines. So start with the county name:
- Open FHFA’s conforming loan limit page. Download the county list (XLSX, CSV or PDF) or open the map.
- Find your state and county in the list.
- Read the column for your number of units (one to four).
- Confirm the figure with your lender. Lenders can also check an exact address with Fannie Mae’s loan limit lookup tool.
Conventional vs. FHA, VA and USDA loan limits
FHA sets its own limits, and they are lower in most areas. HUD sets the FHA floor at 65% of the conforming baseline (Mortgagee Letter 2025-23, section II.A.2.a.ii(B)). Meanwhile, the FHA ceiling matches the conforming high-cost ceiling in most of the country. HUD publishes new FHA limits in late November or December, and they apply to case numbers assigned on or after January 1.
A low-cost county’s FHA limit for one unit is $541,287. The FHA limit in high-cost counties in most of the country can reach $1,249,125.
Take ZIP code 87190 in Bernalillo County, New Mexico. There, the conventional limit is $832,750, and the FHA limit is $541,287. Our guide to FHA loan limits covers each county in detail.
VA loans have no loan limit for borrowers with full entitlement since 2020 (38 U.S.C. 3703, as amended by Pub. L. 116-23); see our VA loan vs. conventional loan comparison. USDA guaranteed loans have no fixed dollar limit; instead, income, repayment ability and appraised value set the maximum (HB-1-3555, chapter 7).
What happens above the limit
A loan above your county’s limit is a jumbo loan. Fannie Mae and Freddie Mac cannot buy it, so each lender sets its own terms. However, federal rules still apply: under the ability-to-repay rule, the lender must make a reasonable, good-faith finding that you can repay (12 CFR 1026.43(c)). Our jumbo loan guide explains how these loans work.
Piggyback loan: an example
Some buyers avoid a jumbo loan with two loans: a conforming first mortgage and a smaller second mortgage. Say a buyer puts $120,000 down on a $1,200,000 home, so one loan would need to be $1,080,000. In this example, the county limit is high enough for a $1,000,000 first loan but too low for a $1,080,000 loan (check your own county).
Instead, the buyer could split the financing:
- First mortgage: $1,000,000, about 83% of the price
- Second mortgage: $80,000, closing at the same time
- Down payment: $120,000
Because the first loan is above 80% of the price, it would usually need mortgage insurance (Fannie Mae Selling Guide B7-1-01). The second loan also has its own rate, terms and closing costs, so compare the total cost with a single jumbo loan. Our piggyback loan guide covers how these loans are set up.
Conventional loan limits FAQ
Does the conventional loan limit change every year?
FHFA reviews it every year and announces the next year’s limits in November. The baseline rises when FHFA’s house price index rises. If the index falls, the limit stays the same that year, and the decline offsets later increases.
Are conventional limits the same in every county?
No. Most counties use the baseline, but counties with high home values get higher limits, up to the high-cost ceiling in most of the country. Four areas, including Alaska and Hawaii, also have a higher baseline.
What is the limit for a two-unit property?
The baseline limit for two units is $1,066,250. In high-cost counties in most of the country, it can reach $1,599,375. Check FHFA’s county list for your exact figure.
What is a conforming loan?
A conforming loan is a conventional mortgage that meets Fannie Mae and Freddie Mac rules, including the loan limit. Because it meets those rules, either company can buy it from the lender.
Can I borrow more than the limit?
Yes, with a jumbo loan, which the lender sets its own terms for. Alternatively, a piggyback second mortgage can keep the first loan under the limit. A larger down payment also lowers the loan amount.
If you know the price range you’re shopping in, look up your county on FHFA’s list first. Then ask a lender to confirm the limit and show you how a conforming, high-balance or jumbo loan would price for your purchase.
