The Federal Housing Agency (FHFA) regulates mortgage loans by setting conforming loan limits, which are the maximum loan limits that meet their lending standards. Buyers who qualify for a conventional loan within the current year’s conforming loan limits will receive a lower interest rate, resulting in a more affordable mortgage payment.
If you’re shopping for a new home in Arizona, it’s important to understand what conforming loan limits are and how they affect your lending eligibility. Learn what the current conforming loan limits are for each county in Arizona, as well as how they have changed year-over-year from 2014 to today.
Table of Contents
What are conventional loans?
A conventional loan is a traditional mortgage loan from a bank institution, mortgage company, or other private lender. Lending requirements for a conventional loan may be stricter than other loan options, with minimum gross monthly income and higher down payment requirements.
Home buyers who can qualify for a conventional mortgage can benefit from lower interest rates and a more affordable home payment. Although conventional loans are not backed by government agencies, a conforming conventional loan meets Fannie Mae and Freddie Mac (government-sponsored) requirements.
Conventional loans can be conforming or non-conforming, depending on whether they require lenders to meet specific loan limits.
What is the maximum conventional loan amount in Arizona?
The maximum conforming conventional loan amount in Arizona is $726,200 for a single-family home, $929,850 for a two-family or duplex property, and $1,396,800 for multi-, four-plex properties, as of 2023.
Loan programs that exceed these conforming loan limits are referred to as jumbo loans, which typically have higher down payment requirements, and buyers must have a cash reserve. Purchasing in high-cost counties in Arizona with higher-than-average home prices could require a jumbo loan for some home buyers.
The Latest Arizona Conventional Loan Limits by County
Conforming loan limits may vary, depending on the counties within Arizona. The conforming limits for conventional home loans can also vary, depending on property type. A single-unit property in Arizona will have lower loan limits for conventional mortgages than a two-, three-, or four-unit property.
Here are the current limits for conforming loans in each Arizona county.
| County | Conforming Loan Limit | |||
| 1 Family/Unit | 2 Family/Unit | 3 Family/Unit | 4 Family/Unit | |
| Apache | $726,200 | $929,850 | $1,123,900 | $1,396,800 |
| Cochise | $726,200 | $929,850 | $1,123,900 | $1,396,800 |
| Coconino | $726,200 | $929,850 | $1,123,900 | $1,396,800 |
| Gila | $726,200 | $929,850 | $1,123,900 | $1,396,800 |
| Graham | $726,200 | $929,850 | $1,123,900 | $1,396,800 |
| Greenlee | $726,200 | $929,850 | $1,123,900 | $1,396,800 |
| La Paz | $726,200 | $929,850 | $1,123,900 | $1,396,800 |
| Maricopa | $726,200 | $929,850 | $1,123,900 | $1,396,800 |
| Mohave | $726,200 | $929,850 | $1,123,900 | $1,396,800 |
| Navajo | $726,200 | $929,850 | $1,123,900 | $1,396,800 |
| Pima | $726,200 | $929,850 | $1,123,900 | $1,396,800 |
| Pinal | $726,200 | $929,850 | $1,123,900 | $1,396,800 |
| Santa Cruz | $726,200 | $929,850 | $1,123,900 | $1,396,800 |
| Yavapai | $726,200 | $929,850 | $1,123,900 | $1,396,800 |
| Yuma | $726,200 | $929,850 | $1,123,900 | $1,396,800 |
Conforming Loan Limits in Arizona Throughout the Years
Conforming home purchase loan limits may change year-over-year to accommodate the expected increase in home prices. Mortgage conforming rates are set by the Federal Housing Finance Agency (FHFA), which apply to Fannie Mae and Freddie Mac loans.
The FHFA adjusts its conforming loan limits every November, which then apply to the following year, starting January 1st. The FHFA has increased limits year-over-year for the last eight years.
Here are the year-over-year increases in conventional loan limits:
| Year | Conventional Loan Limit | YoY % Change |
| 2023 | $726,200 | 12.17% |
| 2022 | $647,200 | 18.04% |
| 2021 | $548,250 | 7.41% |
| 2020 | $510,400 | 5.37% |
| 2019 | $484,350 | 6.89% |
| 2018 | $453,100 | 6.83% |
| 2017 | $424,100 | 1.7% |
| 2016 | $417,000 | 0% |
| 2015 | $417,000 | 0% |
| 2014 | $417,000 | 0% |
