Newly Released Conforming Loan Limits For 2022

Over the past month, some lenders have rushed to fund loans with a higher conforming loan amount in advance of the actual official release from the Federal Housing Finance Agency (FHFA). The preliminary $625,000 loan amount was shy by a fair amount. Obviously, the lenders were being conservative with the loan amount they were funding, because if they were too high, the loans wouldn’t be able to be sold and insured by the Federal Gov’t through Freddie Mac and Fannie Mae.

The Federal Housing Finance Agency (FHFA) today announced the baseline conforming loan limits for 2022 will be up to $647,200, an increase of $98,950 from $548,250 in 2021. High-cost areas have a High Balance loan capability, based on the county. The Southern California region has broad ranges in loan limits. Full county list

Los Angeles County 1-unit $970,800 2-units $1,243,050 3-units $1,502,475 4-units $1,867,275

Ventura County 1-unit $851,000 2-units $1,089,450 3-units $1,316,900 4-units $1,636,550

Some lenders will start to fund loans using the new limits immediately. The lenders will not be able to sell the loans till January 2022.

FHA announced today that they will also align their loan limits with the FHFA limits, but FHA loans can not be originated before January 2022, when a 2022 Case Number can be assigned to the loan.

The new loan limits will help borrowers keep up with the higher property valuations on purchase, and better refinance options.

If you are in the Los Angeles area, have any questions or real estate sales or financing needs, feel free in contacting me

Ron Henderson GRI, RECS, CIAS
President/Broker
Multi Real Estate Services, Inc.
Gov’t Affairs Chair – California Association of Mortgage Professionals (2017-2018)
Chairman – OutWest Marketing Meeting (Real Estate Education)
BRE #00905793 NMLS #310358
www.mres.com
ronh@mres.com
Specialist in the Art of Real Estate Sales and Finance
Real Estate market, mortgage rates, Los Angeles, San Fernando Valley, Conejo Valley, Simi Valley, Woodland Hills, West Hills, Calabasas, Chatsworth