The Federal Housing Finance Agency (FHFA) raised conforming loan limits for 2022! The maximum conforming loan limit for one-unit properties in most parts of the U.S. is $647,200, up from $548,250 in 2021.
What Is a Conforming Loan Limit?
The conforming loan limit is the maximum amount you can borrow on a loan backed by Fannie Mae or Freddie Mac.
Why Did Loan Limits Increase?
The new limits set by the FHFA reflect the rise in home prices across the country, making it easier for more borrowers to qualify for financing and achieve the goal of homeownership.
According to the FHFA House Price Index report, home prices rose 18.5%, on average, between the third quarters of 2020 and 2021.* As a result, the baseline loan limit is increasing by the same amount.
In high-cost areas**, the ceiling loan limit for one-unit properties will be $970,800, which is 150% of $647,200.
2022 FHA Loan Limits
Old Floor Limit - $548,250
New Floor Limit - $647,200
Old Ceiling Limit - $822,375
New Ceiling Limit - $970,800
View the map of 2022 loan limits by county.