Yes, according to the website there are conforming loan limits to consider:
“Your purchase price plus any repair escrow funds (i.e. for repairs to be completed after closing) cannot exceed your approved Maximum Mortgage Amount or the current conforming loan limits. The current limits are $484,350 for a single family home in most areas and $726,525 in high cost areas with considerably higher amounts for multi-family properties.”
It is higher with multi-family properties, the link below gives the limits for those.