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It’s Official: FHFA Confirms Loan Limit Boost to Almost $1M

Friday, Dec 03 2021
Lending
Written by  The Mortgage Leader

The Federal Housing Finance Agency has announced a widely predicted increase in conforming loan limits that raises the size of loans that the federal government will back to nearly $1 million in high-cost areas. So reports Fox Business.

Fannie Mae2 280x280In places where the local median home values are more than 115% above the conforming loan limit, the new 2022 mortgage limit will be $970,800.

Elsewhere, the 2022 limit for mortgage loans backed by Fannie Mae or Freddie Mac next year will be $647,200 for single-family homes, up from $548,250 this year.

Read the full article from Fox Business.

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