Oregon Loan Limits
Oregon Conventional Loan Limits
Conventional loan limits in Oregon are the maximum size of a mortgage that Fannie Mae or Freddie Mac will acquire.
The reason it’s important for loans to meet Fannie or Freddie guidelines is because those government-sponsored agencies (GSEs) buy the bulk of mortgages in the Unites States. A lender makes a loan to a consumer and then (in many cases) offloads it to a GSE, freeing up cash to make more loans. This is what produces liquidity in the mortgage market. So a common set of rules is needed to keep everyone on the same page.
Thus, the Federal Housing Finance Agency (FHFA) monitors the House Price Index (HPI) and publishes conforming loan limits annually. Loan limits are adjusted on regional basis, by county. Some counties will change each year and some will stay the same.
To keep things straight, here are two types of conventional loans:
- Conforming loans are equal to or less than the published conforming loan limits.
- Non-conforming loans exceed conforming loan limits and are called jumbo loans.
For one-unit properties in Oregon, conforming loan limits are the same wherever you go:
- $424,100 (all counties)
Oregon VA Loan Limits
Oregon VA loan limits are the same as conforming limits. Lenders mostly make VA loans that do not exceed GSE requirements. For one-unit properties in Oregon, the VA typically guarantees (insures) 25% of a loan amount up to:
- $424,100 (all counties)
Oregon FHA Loan Limits
FHA loan limits are also set by region (county), based on local median home prices. HUD sets the maximum loan size. To receive FHA mortgage insurance, a loan must not exceed the caps.
For one-unit properties in Oregon, FHA loan limits are:
- $275,665 floor in low-cost areas,
- 115% of median home prices in the county, or a maximum of
- $408,250 in some higher-cost areas
Conforming, VA & FHA Loan Limits by County
In the table below, you will find conforming, VA and FHA loan limits by county in Oregon. The loan limits are for single-family residences. Multi-family units (like duplexes) go higher.
|County Name||Conforming and VA Limits||FHA Loan Limit|
Benton County includes city of Corvallis.
Clackamas County includes cities of Oregon City, Lake Oswego, West Linn and Happy Valley.
Deschutes County includes cities of Bend, Redmond and Sisters.
Jackson County includes city of Medford.
Lane County includes cities of Eugene and Springfield.
Linn County includes city of Albany.
Marion County includes cites Keizer and Woodburn and portions of Salem.
Multnomah County includes cities of Portland, Gresham and Troutdale.
Wasco County includes the city of The Dalles.
Washington County includes cities of Hillsboro, Beaverton and Tigard.