Conventional Loan Limits For 2014 Reviewed In A New Guide

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A handy guide to loan limits recently posted on takes a look at conventional loan expectations for 2014. is a borrower advice website that offers in depth and up to date information on loans in an easy to understand and entertaining format. The company, which has quickly become a trusted destination for current news and expert loan advice, empowers homeowners with first class knowledge, valuable resources and connections to top rated industry professionals. The loan advice website recently released a new guide to conventional loan limits in 2014 which can give readers a better understanding of what to expect in their home loan planning.

The article, titled “2014 Loan Limits: Conforming, Conventional, & FHA Expectations”, takes a look at the different loan limits for each type of loan available. The article says, “Prospective home buyers shopping around for conforming, conventional and FHA loans in 2014 will find only a few changes in loan limits compared to last year. For the most part, the limits—which set the maximum allowable loan size for a mortgage in a given geographical area—remain at 2013 levels, other than a few adjustments up or down in some high-cost regions.”

So what are the conventional loan limits for 2014? First, it is important to understand that there are really no set limits for conventional loans. The term “conventional loan” refers to loan products that are not backed by the government. This means the individual lender is the one that decides how large of a loan they would approve. That being said, the majority of conventional loans do in fact follow conforming loan limits. The Loan Love guide explains, “While you can get approved for a conventional loan that does not fit within the conforming loan limits, your lender would not be able to resell your nonconforming loan to Fannie Mae and would then be taking on greater risk. This is why most lenders adhere to these limits.”

The article explains that the conforming loan limits for 2014 are:

  •     1-unit home : $417,000
  •     2-unit home : $533,850
  •     3-unit home : $645,300
  •     4-unit home : $801,950

However, in high cost areas loan limits are higher. In most of these high cost regions, conforming loan limits max out at:

  •     $625,500 for a one-unit home
  •     $800,775 for a two-unit home
  •     $967,950 for a three-unit home
  •     $1,202,925 for a four-unit home

However, the article also states that max loan limits are even higher in states such as Hawaii, Alaska, Guam and the U.S. Virgin Islands. Loan Love says, “While no counties will see a decline in conforming loan limits for 2014, among the several counties where borrowers can take advantage of an increase, are two counties in Virginia, three counties in New York and five in Massachusetts. Several lesser-known metropolitan areas have also seen the conforming loan limit raised for 2014, including Garfield, Colo., which will see loan limits climb all the way to $625,000. Among some of the other cities affected by the higher loan cap in the contiguous states are Boston; Newburgh, N.Y.; Poughkeepsie, N.Y.; and Culpeper County, Va.”

For more information on conventional loan limits 2014 and to know if a conventional loan is the right choice when borrowing a loan, please visit to read the full article.

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