12/05/2022
Big news from the Federal Housing Finance Agency! They have increased the conforming loan limit for single-family properties in most of the U.S. to $726,200 – up nearly $80,000 from the 2022 limit of $647,200 (the limit in certain high-cost areas is over $1million). Limits have also been raised for 2-4 units. This means buyers have more purchasing power without the additional requirements of a jumbo loan. And eligible homeowners could potentially refinance their jumbo loan for a lower rate on a conforming loan.