2026 Conforming Loan Limits: When Does a Mortgage Become a Jumbo Loan?
The 2026 conforming loan limit for a one-unit home is $832,750 in most of the United States, and a mortgage above that figure, or above the higher limit in a high-cost county, is a jumbo loan. The Federal Housing Finance Agency set the value on November 25, 2025, and the ceiling in the costliest counties of the contiguous United States is $1,249,125. Here is where the lines sit, how FHA and VA limits relate, and why offers above the line vary more by lender.
Key takeaways
- The 2026 baseline conforming loan limit is $832,750 for a one-unit home, up $26,250 from $806,500 in 2025, tracking a 3.26 percent rise in the Federal Housing Finance Agency's house price index.
- In high-cost counties the 2026 one-unit limit reaches $1,249,125, or 150 percent of the baseline.
- A loan above its county's conforming limit is a jumbo loan that Fannie Mae and Freddie Mac cannot buy; one above the baseline but within a high-cost county's limit is high-balance or super conforming.
- FHA's 2026 one-unit limits run from $541,287 to $1,249,125 for case numbers assigned on or after January 1, 2026, under HUD Mortgagee Letter 2025-23.
- Consumer Financial Protection Bureau research on 2021 data measured about 57 basis points of A.P.R. dispersion among large jumbo lenders, against 41 for conforming loans.
What is the conforming loan limit for 2026?
The conforming loan limit for 2026 is $832,750 for a one-unit property in most of the United States, set by the Federal Housing Finance Agency (FHFA) on November 25, 2025. That is $26,250 above the 2025 limit of $806,500, tracking a 3.26 percent rise in FHFA's house price index.
A conforming loan limit is the largest mortgage Fannie Mae or Freddie Mac can buy from a lender. FHFA sets a higher limit where 115 percent of the local median home value exceeds the baseline, capped at 150 percent, or $1,249,125 for a one-unit home in 2026. Within a metropolitan or micropolitan statistical area, FHFA applies the highest county median to the whole area, so neighboring counties usually share a limit.
FHFA said the 2026 values rose in all but 32 counties or county equivalents. In Alaska, Hawaii, Guam, and the U.S. Virgin Islands, the statutory baseline is 50 percent higher: $1,249,125, with a ceiling of $1,873,675. The figures below are current as of October 2026.
| Property | 2026 conforming baseline | 2026 high-cost ceiling | 2026 FHA floor |
|---|---|---|---|
| One unit | $832,750 | $1,249,125 | $541,287 |
| Two units | $1,066,250 | $1,599,375 | $693,050 |
| Three units | $1,288,800 | $1,933,200 | $837,700 |
| Four units | $1,601,750 | $2,402,625 | $1,041,125 |
High-cost ceilings are 150 percent of each baseline, and the FHA floors come from the U.S. Department of Housing and Urban Development (HUD), covered below. FHFA's conforming loan limit values page lists every county.
How does FHFA calculate the limit each year?
FHFA raises the baseline by the change in its nominal, seasonally adjusted, expanded-data House Price Index between the third quarters of the two prior years, as the Housing and Economic Recovery Act of 2008 (HERA) requires, and rounds the result down to the nearest $50. That index rose 3.26 percent between the third quarters of 2024 and 2025.
When does a mortgage become a jumbo loan?
A jumbo loan is a mortgage whose original loan amount is larger than the conforming loan limit for the county where the property sits. In 2026 that means a one-unit loan above $832,750 in a county at the baseline, or above the higher limit in a high-cost county. FHFA puts it plainly: "Loans above this amount are known as jumbo loans."
Because Fannie Mae and Freddie Mac cannot buy a jumbo loan, the lender keeps it or sells it to a private investor, so guidelines, pricing, and documentation come from each lender rather than a shared rulebook.
Does the limit apply to the loan amount or the purchase price?
The limit applies to the loan amount, not the purchase price; Fannie Mae's Selling Guide states that the limits are based on the original loan amount. A $1,000,000 purchase with 20 percent down produces an $800,000 loan, within the conforming limit in every county in 2026. With 10 percent down, the $900,000 loan is jumbo in a county at the baseline and high-balance in a high-cost county whose limit is at least $900,000.
What is a high-balance or super conforming loan?
A high-balance loan is a conventional mortgage with an original loan amount above the $832,750 baseline but at or below the higher limit for its high-cost county, up to $1,249,125 for a one-unit home in 2026. Fannie Mae calls these high-balance loans, Freddie Mac calls them super conforming mortgages, and both can still buy them. In a county at the baseline there is no high-balance band: a loan is conforming at $832,750 or below and jumbo above it.
How does high-balance pricing differ from baseline conforming pricing?
High-balance loans use the same agency grids with an extra layer. Fannie Mae's Selling Guide states that additional loan-level price adjustments apply to all high-balance loans and that all price adjustments are cumulative, so the high-balance adjustment stacks on the credit score, loan-to-value, and occupancy adjustments. A lender can pass it on as rate, points, or a mix; see why two lenders quote different rates.
What are the FHA loan limits for 2026?
FHA's 2026 forward mortgage limit for a one-unit home runs from a floor of $541,287 to a ceiling of $1,249,125, effective for case numbers assigned on or after January 1, 2026, under HUD Mortgagee Letter 2025-23. HUD sets the floor at 65 percent of the $832,750 one-unit conforming limit and the ceiling at 150 percent, so the FHA ceiling equals the conforming ceiling. In Alaska, Hawaii, Guam, and the U.S. Virgin Islands, the same letter sets a higher one-unit FHA ceiling of $1,873,625.
Between the floor and the ceiling, a county's FHA limit is 115 percent of its median home price; HUD's lookup tool returns the figure by county. Our guide on FHA versus conventional loans covers the other differences.
Does the conforming loan limit apply to VA loans?
The conforming limit matters for a VA loan only when the borrower has remaining rather than full entitlement. The Department of Veterans Affairs says a borrower with full entitlement has no VA loan limit, provided the borrower qualifies and the appraisal supports the price. With remaining entitlement, VA bases the bonus entitlement on the county loan limit, which it says equals the FHFA one-unit conforming limit, and a lender may require a down payment if that entitlement does not cover a 25 percent guaranty. The one-time funding fee most VA borrowers pay is covered in our guide to the VA funding fee.
Why do jumbo loan offers vary so much between lenders?
Jumbo offers vary more because no agency guarantee or shared pricing grid sits behind them. Each lender prices a jumbo loan from its own balance sheet, investor outlets, and appetite for risk, and sets its own reserve requirement, minimum credit score, maximum loan-to-value, maximum debt-to-income, and documentation standards.
The Consumer Financial Protection Bureau measured this in a May 2023 analysis of 2021 Home Mortgage Disclosure Act data, finding that "price dispersion for mortgages is often around 50 basis points" of A.P.R. After adjusting for credit score and loan-to-value, dispersion among the largest lenders in each segment was about 57 basis points for jumbo loans and about 41 for loans sold to Fannie Mae and Freddie Mac. See how many lenders to compare for why three to five comparable offers usually reveal the range.
Are jumbo rates always higher than conforming rates?
No. Jumbo rates are set lender by lender, not always higher or lower. A lender that wants jumbo loans on its balance sheet may price them aggressively one month and pull back the next, so the gap between jumbo and conforming quotes can run either way.
What can you do if your loan is just over the limit?
If the loan you need is slightly above the limit, the common options are a larger down payment, a conforming first mortgage paired with a second lien, or the jumbo loan itself. Which costs less depends on how each lender prices each structure, so borrowers commonly ask for both quotes on the same day. A borrower who needs $850,000 in a county at the $832,750 baseline is $17,250 over the line; adding that to the down payment brings the loan amount within the conforming limit. Program minimums and gift rules for that larger down payment are in minimum down payment by loan type.
How does a jumbo offer compare with a conforming loan plus a second lien?
A $1,000,000 purchase with $100,000 down can be financed as a $900,000 jumbo loan, or as an $800,000 conforming first mortgage at the 80 percent LTV line plus a $100,000 second lien. The first mortgage then carries no private mortgage insurance, while the second lien carries its own rate and fees, and a jumbo lender sets its own maximum loan-to-value and insurance rules. A fair comparison adds up both liens against the jumbo offer on the same day.
How does a HomeTurf auction handle jumbo and high-balance loans?
On HomeTurf, you post your loan once. In a Purchase or Refinance auction, lenders see your exact loan amount, because accurate offers depend on it, and your credit score, income, and assets as ranges. In a Pre-Approval or Beat My Rate auction, they see your loan amount as a range. HomeTurf is a technology marketplace, not a lender or loan originator. N.M.L.S.-verified, state-licensed lenders bid inside one window of 12, 24, 36, or 48 hours, capped at 48 hours because mortgage rates change daily, for purchase, refinance, pre-approval, and Beat My Rate auctions alike.
Because jumbo pricing is set lender by lender, any jumbo offers that arrive inside one window show the spread among those lenders on that day. Each offer shows its rate, A.P.R., fees, and points exactly. Purchase, refinance, and Beat My Rate offers state a quote validity window in business days; pre-approval offers show estimated rates. HomeTurf does not lock rates or guarantee any rate; any lock happens afterward with the lender you choose.
You stay anonymous while lenders bid, HomeTurf does not pull your credit, and your credit range is self-reported. Lenders cannot pay for placement, and HomeTurf never selects, ranks as best, or recommends a lender. Only the lender you choose receives your contact details, and it must reach out within 36 hours.
Frequently asked questions
What is the jumbo loan limit in 2026?
There is no single jumbo loan limit, because a jumbo loan is any mortgage above the conforming loan limit for the property's county. In 2026 that limit is $832,750 for a one-unit home in most counties and up to $1,249,125 in high-cost counties of the contiguous United States, per the Federal Housing Finance Agency, so a jumbo loan begins just above whichever figure applies.
When will the 2027 conforming loan limits be announced?
FHFA has announced the following year's conforming loan limits in late November, most recently on November 25, 2025, for 2026, and HUD has published FHA limits in December. The 2027 baseline will track FHFA's expanded-data House Price Index from the third quarter of 2025 to the third quarter of 2026, and the 2026 figures apply until then.
Does the conforming loan limit apply to refinances as well as purchases?
Yes. Fannie Mae's Selling Guide states that the limits are based on the original loan amount and apply to all conventional loans delivered to Fannie Mae, so they cover purchases, rate-and-term refinances, and cash-out refinances alike. A homeowner refinancing into a loan above the county limit is taking a jumbo loan with lender-set terms, even if the old loan was conforming.
Can I get an FHA loan above the FHA limit for my county?
No. FHA insures forward mortgages only up to the county limit HUD sets, which for 2026 runs from $541,287 to $1,249,125 for a one-unit home. Above that figure, the alternatives are a larger down payment, a conventional loan if the amount fits the county's conforming limit, or a jumbo loan with lender-set terms.
Know which side of the line you are on
The 2026 limits draw clear lines: $832,750 in most counties, up to $1,249,125 in high-cost areas, and $541,287 to $1,249,125 for FHA. Which side of the line your loan falls on decides whether a shared agency grid sits beneath each lender's price or each lender prices the loan alone. When you are ready to see what verified lenders will offer, you can Start Your Auction. HomeTurf is a technology marketplace, not a lender, and it is free for borrowers.
Remember that this is general information, not financial advice, and every situation is different.
Sources
- Federal Housing Finance Agency, FHFA Announces Conforming Loan Limit Values for 2026: fhfa.gov
- Federal Housing Finance Agency, Conforming Loan Limit (CLL) Values, county lists and map: fhfa.gov
- Federal Housing Finance Agency, Addendum: Calculating 2026 Conforming Loan Limit Values Under HERA: fhfa.gov
- U.S. Department of Housing and Urban Development, Mortgagee Letter 2025-23, 2026 Nationwide Forward Mortgage Loan Limits: hud.gov
- U.S. Department of Veterans Affairs, VA home loan limits: va.gov
- Consumer Financial Protection Bureau, Office of Research blog post on mortgage price dispersion in 2021 HMDA data, May 24, 2023: consumerfinance.gov
- Fannie Mae, Selling Guide B2-1.5-01, Loan Limits: selling-guide.fanniemae.com
- Fannie Mae, Selling Guide B5-1-02, High-Balance Pricing, Mortgage Insurance, Special Feature Codes, and Delivery Limitations: selling-guide.fanniemae.com
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Start Your AuctionHomeTurf is a technology marketplace, not a lender or loan originator. This content is for general information only and is not financial or legal advice.