Skip to main contentClick on Skip to main content

New Higher (and Better!) Loan Limits for 2022

By: Chris Kyun Choe / 30 Nov 2021

I hope everyone had a great Thanksgiving weekend.

We received some exciting news today in the mortgage world. As of today, the conventional loan limits increased across the country. In most counties, the conventional loan limit increased to at least $647,200. For some counties, such as the county I live in Maryland, the High-Balance Conventional Loan limit is $970,800.

FHFA wrote "that due to rising home values, conforming limits will increase in all but four U.S. counties or county equivalents."

You can read the Federal Housing Finance Agency's announcement here.

This will positively impact...

...families who want to purchase a higher-priced home but were previously capped at the old lower limit and stuck with either a Jumbo loan or a combo of a 1st and 2nd mortgage

...families who are considering to refinance in order to lower their payments but were restricted because the previous limit was lower and they were stuck with a Jumbo loan.

...families wanting to move forward with a cash-out refinance but the conventional limits were too low

Check out the video below:


Below is a chart to help illustrate this increase.

Find more readings