2022 Conforming Loan Limits

Every year the Federal Housing Finance Agency (FHFA) announces their conforming loan limits for the upcoming year immediately following the November release of their House Price Index (HPI). FHFA uses this data on home price appreciation to set the new loan limits for the upcoming year. For areas in the country that are considered high cost, FHFA increases loan limits further and will go up to 150% of the baseline conforming loan limit.

In 2022, the new conforming loan limit for most of the US for one-unit properties will increase to $647,200, an increase of $98,950 from $548,250 in 2021. This means in areas of high-cost or with special statutory provisions, the loan limit can reach as high as $970,800. An example in Washington State would be the counties of King, Snohomish, and Pierce, where the loan limit will increase to $891,250, an increase of $115,000 from $776,250 in 2021.

This significant increase will help home buyers access more credit and remain competitive in the current market where home prices have quickly risen. In fact, this year-over-year increase of 18% in the conforming loan limit is the largest on record dating back to 1970.

If you have any questions or want to find out if you qualify for a conforming loan, please reach out today!

2022 Conforming Loan Limits By County

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