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Conforming Loan Limit Hike

The Federal Housing Finance Agency announced on November 30, 2021, that the new baseline conforming loan limit for Fannie Mae and Freddie Mac mortgages in 2022 will be $647,200 for one-unit properties in most areas in the U.S (gray color in below picture). This is an 18% increase from 2021’s limit of $548,250.

For the Denver Metro area of Colorado, the loan limit has been increased to $684,250 (yellow color in below picture), as it's considered a FHFA-designated high-cost area. Other high cost areas such as Alaska, Hawaii, Guam, U.S. Virgin Islands, etc. have a new conforming loan limit of $970,800. WOW!

What does this mean for homebuyers and homeowners?

These higher loan limits keep homebuyers in step with the rising housing market. With conforming loans, homebuyers can purchase homes with lower down payments and more competitive rates! Homeowners can access more equity in their home by allowing them to borrow up to the increased conforming loan limit. Great opportunities!

Conforming Loan Limits 2022 Map.

Click here to see the Conforming Loan Limits 2022 Map.

As always, if you have any questions at all, please call me! I'm always happy to help!



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