Rocket raises conforming loan limit to $845,000

Rocket Mortgage announced Thursday morning that it raised its conforming loan limit to $845,000 for single-family homes in 48 states, moving ahead of the Federal Housing Finance Agency’s (FHFA) official limits. Each November, the FHFA sets baseline conforming loan limits, which determine the maximum mortgage size that Fannie Mae and Freddie Mac can purchase. The new limit applies to borrowers working directly with Rocket Mortgage as well as those working with broker partners through Rocket Pro, effective immediately. The announcement makes Rocket the first major industry player to announce 2027 conforming limits and is a 1.47% increase from the current 2026 one-unit limit of $832,750. Last year, Rocket announced its conforming loan limits in mid-October. “This, in large part, has to do with Rocket’s liquidity, our Fortress-like balance sheet, which allows us to do things like this that maybe other lenders wouldn’t have the opportunity to do. So, we’re not waiting until 2027,” said Kyle Schoenmaker, Rocket Pro’s SVP of sales. Schoenmaker said the decision to announce loan limits early is less about being first but rather “getting it right.” “Early deployment has been a part of our s...