New FHA Loan Limits in 2022

Dated: December 28 2021

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The Federal Housing Finance Agency (FHFA) has just increased the amount of money that can be borrowed through a standard home loan to more than $647K. In some areas, the limit is even higher. The new limits will take effect in 2022.

This is great news for buyers and owners alike.

  • Buyers may be able to borrow more money through a conventional, typically lower-rate loan.
  • Owners may be able to refinance their "jumbo" loan to a lower rate conforming loan and possibly drop mortgage insurance, too.
  • Combining (or avoiding) smaller 1st and 2nd mortgages may now be an option.
  • The increase reaffirms the health of the housing market and your decision to invest in a home.

Here are the specifics about the change:

  • The standard loan limit, also known as the conforming loan limit, rose by 18% to a maximum of $647,200 in most areas.
  • The percentage increase is equal to the national appreciation average over the last year.
  • This is the 6th year in a row that the FHFA has raised the limit, after a decade of no increases. The limit has risen more than $230K over six years.

Curious about limits in your county or other areas? Follow the link below to check. We'll update it as limits change, so bookmark it for future reference if you'd like.

If you have questions about what this change could mean for you, please reach out. And if you have friends who may benefit from the news, please pass it along. I'd be happy to help them too.

This information comes to you by: 
Keith Hapenney Vice President, Senior Loan Officer | NMLS# 20369
​Office: (781) 474-5082 ​Mobile: (508) 816-7531
Leader Bank 160 Gould Street, Suite 205 , Needham, MA 02494

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Sharon Lucido

Both my Dad and my Father-in-law were Real Estate Brokers. From watching them, I learned that real estate is not just about buying and selling, it's an emotional process that should be handled with ho....

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