2019 will bring higher conforming loan limits for homes located in King, Snohomish and Pierce Counties. Loan amounts over a conforming loan amount for which the property is located in is considered “non-conforming” or a “jumbo” mortgage.

For 2019, the conforming loan limits for King, Pierce and Snohomish Counties are:

• One Unit: $726,525
• Two Unit: $930,300
• Three Unit: $1,234,475
• Four Unit: $1,397,400

Technically, the loan limits for King, Snohomish and Pierce Counties are called “high balance conforming” as the loan limits are higher than the “true” conforming loan limits (which the rest of the state has for conforming loan limits).

For homes located in Washington state in any other county, the conforming loan limits are:

• One Unit: $484,350
• Two Unit: $620,200
• Three Unit: $749,650
• Four Unit: $931,600

When structuring your mortgage scenario, it may be more beneficial to have a “true conforming” loan amount vs. a high balance mortgage depending on your scenario and how rates are currently priced. It’s not unusual to see jumbo rates more favorable than “high balance” or “true” conforming. It’s important to work with a licensed local loan officer who will check out the various options that may be available to you.