You have an extra $100K to spend! National Association of Realtors announced their 2022 new loan limits raising the nationwide conforming loan limit by 18.05% from $548,250 to $647,200. That’s a $98,950 increase. Denver Metro high balance home seekers have the added cushion of $684,250, a jump up from $596,850. $684,250 loan limit allows a purchase price of $720,263 with as little as 5% down.
"With the continuous rising of home prices, the National Association of Realtors® appreciates the FHFA resetting the national and high-cost conforming loan limits," said Rouda Smith. "Fannie Mae and Freddie Mac are critical to providing funding to the housing market as we've seen throughout the pandemic and decades before it. The FHFA's actions will continue to ensure liquidity for the home purchase market."
The FHFA's limits define the maximum one-unit single-family mortgage amounts that Fannie Mae and Freddie Mac may finance and are also used to define the loan limits for the FHA's program.
