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New FHA loan limits have been announced for 2022!

If you’re closing on a new home on or after January 1, 2022, you’ll likely have more flexibility with your Federal Housing Administration (FHA) loan. The FHA has announced new loan limits for 2022 in response to the dramatic increase in home prices across the country.

Why Did Loan Limits Increase?

Housing prices are on the rise, and the National Housing Act requires the FHA

to maintain loan limits at 115% of median home prices, which are calculated using Metropolitan

Statistical Area (MSA) and county information.

New Loan Limits

Floor limits for one-unit properties have increased across most of America, from $356,362 in 2021 to $420,680 in 2022, which is 65% of the national conforming loan limit of $647,200. In high-cost areas, ceiling loan limits have risen from $822,375 to $970,800, which is 150% of the national conforming loan limit.

2022 Loan Limits

Old Baseline Limit - $356,362

New Baseline Limit - $420,680

Old Ceiling Limit - $822,375

New Ceiling Limit - $970,800



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