The Federal Housing Finance Agency has announced an increase in the conforming loan limits for Fannie Mae and Freddie Mac in 2022. In most of the U.S., the maximum conforming loan limit will rise to $647,200 — an 18% increase from the 2021 level of $548,250. Additionally, the FHA has increased the high-balance loan limit for single-unit properties in high balance markets to $970,800, or 150% of $647,200. Over the past six years, the baseline loan limit has increased by $230,200.
To learn more about this increase click here.
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Tags: Mortgage News