Increased Loan Limits for 2023
Hot of the press! The Federal Housing Finance Agency (FHFA) has set the new maximums for the conforming loan limits for 2023. Good news for our market - the limit has increased from $647,200 to $726,000 in 2023.
As our average home prices are so high, many of our counties quality for the elevated loan amaounts, such as Boulder County which will have a loan limit of $856,750 in 2023.
Why is this important? Conforming loans can be better alternatives to Jumbo loans as they generally require lower down payments, less documentation, lower credit scores, faster closing times and more!
Reach out to your lender or real estate agent today to see how this could affect your buyer power for the better in 2023!
See the table below for 10 Colorado counties and their 2023 conforming loan limits.
|
County
|
Conforming
Loan Limit
|
Conf (High Balance)
Loan Limit
|
Jumbo Loan
Start At
|
|
Boulder
|
$726,200
|
$856,750
|
$856,751
|
|
Denver
|
$726,200
|
$787,750
|
$787,751
|
|
Jefferson
|
$726,200
|
$787,750
|
$787,751
|
|
Adams
|
$726,200
|
$787,750
|
$787,751
|
|
Arapahoe
|
$726,200
|
$787,750
|
$787,751
|
|
Broomfield
|
$726,200
|
$787,750
|
$787,751
|
|
Douglas
|
$726,200
|
$787,750
|
$787,751
|
|
Larimer
|
$726,200
|
N/A
|
$726,201
|
|
Weld
|
$726,200
|
N/A
|
$726,201
|
|
Gilpin
|
$726,200
|
$787,750
|
$787,751
|