Covid-19 Important Updates - We're here for you. Find out how we can help.
Call us directly at 877-239-9572 or click here for more information

Conforming Loan Limits Increased for 2018

On November 28, 2017, the Federal Housing Finance Agency (FHFA) announced that it would raise the baseline conforming loan limit for 2018 for New York and for most counties across the country.   And the Federal Housing Administration also announced in early December that nearly every area of the U.S. will see FHA loan limits increase in 2018. This is in response to significant housing price gains during 2017.

In New York City, the new limit for a single-family home loan can now be as high as $679,650. Anything above these caps is considered a jumbo mortgage.

What Is a Conforming Loan?

A conforming home loan is one that meets, or “conforms” to, certain guidelines set forth by Freddie Mac and Fannie Mae. These loans are meant to assist homebuyers seeking modest homes in any county across the U.S.

Because they are not meant to assist homebuyers with a luxury property purchase, FHA loans have loan limits based on the county’s median home price and other economic factors.

Here are the new loan limits:

New 2018 Conforming (LMS 81 & LMS 06) Loan Limits
1 Unit   = $453,100
2 Units = $580,150
3 Units = $701,250
4 Units = $871,450
Condo = $453,100
Coop  =  $453,100
New 2018 High Balance (LMX) Loan Limits
1 Unit   = $679,650
2 Units = $870,225
3 Units = $1,051,875
4 Units = $1,307,175
Condo = $679,650
Coop   = $679,650

Ask a Lyons Mortgage Expert

If you’re interested in finding out what home loan options are available for you, a Lyons Loan Expert is available for a personal consultation.


Join Our Newsletter

Signup today for free and be the first to get notified on new updates.

Start your mortgage application process online now!


Lyons Mortgage Services, Inc.
4802 25th Avenue, Suite 303
Astoria, NY 11103


Toll Free 800 448 8101
Telephone 718 267 2000
Facsimile 718 956 6199

(C) 2020 Lyons Mortgage Services, Inc. | NMLS ID 58702 | Mortgage Banker Licensed in, NY, NJ, CA, CT, PA

Application Technology by Floify | website by neoweb

Are you currently working with a Lyons Business Development Manager?


If you click "No", we will connect you with one of them.