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Home prices keep going up, so Fannie Mae & Freddie Mac once again increased conventional loan limits.
Changes From 2021 to 2022
Regular conforming loan limits for one-unit homes are increasing from $548,250 to $647,200!
“High Balance” limits for designated high-cost areas are increasing from $822,375 to $970,800!
Multi-unit homes vary from the above amounts.
What This Does for You
This 18% increase in the above loan limits allows more borrowers to qualify within conforming loans instead of jumbo loans, which provides the following benefits:
While these changes don’t go into effect with Fannie Mae & Freddie Mac until January 1, 2022…we’re already allowing the higher loan limits now.
Contact us if you have questions as it pertains to your specific situation…we’re happy to help!