Pennymac Becomes The First Large Lender To Raise Confirming Loan Limits To $850,000
Pennymac announced that it is the first large lender to increase conforming loan limits to $850,0000 across all production channels for single-unit properties in the lower 48, including Third-Party Origination (TPO), Consumer Direct Lending (CDL) and Pennymac Correspondent Group (PCG). Pennymac’s new conforming loan limits come ahead of FHFA’s updates to the baseline loan limit, expected this November. Pennymac’s conforming $850,000 loan limit is the highest announced increase of any large lender and is $17,250 above the national baseline limit of $832,750 and is effective immediately.
In addition, Pennymac increased conforming limits across two-to-four-unit properties. These limits represent the largest increases by a large lender. Increased limits are increased to:
- $1,088,350 for two-unit properties
- $1,315,500 for three-unit properties
- $1,634,950 for four-unit properties
In Hawaii and Alaska, Pennymac increased conforming loan limits to:
- $1,275,000 for one-unit properties
- $1,632,500 for two-unit properties
- $1,973,250 for three-unit properties
- $2,452,400 for four-unit properties
“By raising our conforming loan limits, Pennymac is putting savings directly into homeowners’ hands,” said Doug Jones, Pennymac President and Chief Mortgage Banking Officer. “This lets homebuyers avoid Jumbo loan territory now, instead of waiting until January 2027. This means real dollars back in homeowners’ pockets today, and the most competitive product our partners can offer their clients right now. As one of the nation’s leading mortgage lenders, Pennymac continues to set the pace for innovation that puts borrowers and partners first.”
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