Higher Conventional Loan Amounts

 In Different Types of Loans

Fannie Mae and Freddie Mac have increased the maximum loan amounts for conventional loans (non-government loans).  These higher conventional loan amounts are effectively immediately. Here are the new loan amounts:

  • For Adams, Arapahoe, Denver, Douglas, Broomfield, and Jefferson Counties, the new maximum loan amount is $561,200.
  • For Boulder County, the new maximum loan amount is $626,750.

What does this mean?  If you are buying a house, you can now get a conventional loan up to these amounts, and still only have to put 5% down. If you get a loan for more than these amounts, then it is considered a jumbo loan, and you will need to put more money down.

If you only want to put 3% down, the maximum loan amount is now $484,350 for every county in Colorado.

Remember that these numbers are the maximum loan amounts (after the down payment), not the maximum purchase price.

 

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