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Making Finances Simple. Changing Lives.

12/2/2021

Yet Another Increase in Loan Limits

​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:
  • Qualify with easier guidelines
  • Obtain better rates
  • Receive lower costs
  • Allows reduced down payments
  • Provides room for accessing more equity
 
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!

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