12/02/2021
This announcement is exciting for homebuyers because it could open up more options for you, particularly in markets with higher prices. As a mortgage lender, we have limits on how much we can lend to a borrower before it's considered a jumbo loan. Jumbo loans are typically harder to qualify for, requiring higher credit scores and larger down payments. The new 2022 conforming loan limit increase means you'll have more flexibility to buy higher-priced homes and even refinance a jumbo loan into a low-interest conforming loan. It's great news for everyone- reach out today and let's discuss what it means for you!