The Federal Housing Finance Agency (FHFA) has officially announced their 2022 conforming loan limits for Fannie Mae and Freddie Mac.  The widely anticipated increase came in higher than previously expected, and represents the 5th consecutive increase, and the largest in 50 years!  Currently, the 2021 baseline loan limit for single family homes in most markets is $548,250.  Due to increased home values, that number has jumped to an astounding $647,200.  This record jump will allow for more home buyers to apply for conforming loans, versus “jumbo loans”, which typically carry higher interest rates and are more challenging to qualify for.

Also making a record jump in 2022, are the loan limits for “high-cost” areas.  Fannie Mae and Freddie Mac are allowed to purchase bigger mortgages in these areas up to a ceiling of 150% above the baseline conforming loan limit.  Currently the 2021 high-cost loan limit is $822,375 in those areas.  However, with the baseline conforming loan limit rising to $647,200 in 2022, the high-cost loan limit is escalating to $970,800.  Now that these new loan limits are official, lenders will be able to offer conforming loans up to these limits.  Please reach out to your Advisors Mortgage Loan Officer to discuss all options.


A Family

Advisors is a multi-state mortgage banker that believes in delivering a seamless, stress-free mortgage experience to all of our customers.

Apply Now