The 2023 Seattle area (King, Pierce and Snohomish Counties) conforming loan limit (aka high balance loan limit) will be $977,500. This is an increase from the 2022 Seattle limit of $891,250. The High Balance Conforming Loan Limit applies to all Fannie Mae (FNMA) and Freddie Mac Home Loans that exceed $726,200 up to the full $977,500 Seattle area / King/ Snohomish/ Pierce County Loan Limit for 2023.
These are available with as little as 3-5% down payment. Seattle Conventional loans up to $726,200 require just a 3% down payment for first time home buyers. Seattle/King County Metro area Conforming High Balance/Jumbo loans are available with as little as 5% down payment up to $977,500. There are other options to use this Conforming Loan to exceed these amounts. We also offer piggyback seconds that would allow you to pair a $726,200 or $977,500 first mortgage with a new second lien, with just 5% down required. This is helpful when the purchase price would put you into true Jumbo Loan territory. An example would be for a $1.2M Seattle home purchase with 5% down ($60k down), the new first mortgage would be at $977,500, and the new second mortgage would make up the remainder up to 95% LTV with a $162,500 balance.
Call the Loan Pros at Vandyk Mortgage – 866-900-2342 toll free direct, or 760-752-4480 local direct. Or simply apply via the link at the upper right.
We are a Privately held Direct Lender offering a full suite of Purchase Loan options.