The loan limits have increased for loans closing in 2017. Below is a summary for loans closing in the metro area of the Twin Cities. Please contact me for areas outside the 7 county metro area:
The Conventional conforming loan limits are increased to $424,100 for loans closing on or after January 1, 2017.
FHA loan limits in the metro area are increased to $326,600 for single family homes and $418,100 for Duplexes. FHA loan limits are based on the case number assignment date and go into effect with case numbers assigned on or after January 1, 2017.
VA loan limits are effective for loans closed on or after January 1, 2017.
USDA Guaranteed Rural Housing
USDA doesn’t establish a maximum loan amount but tends to mirror conforming conventional limits. The updated limits will be effective for case numbers assigned after January 1, 2017.