Understanding the 2022 Loan Limit Increases
January 19, 2022By Maggie Li
Understanding the 2022 Loan Limit Increases
Great news for buyers! The Federal Housing Finance Agency has announced a significant increase in conforming loan limits for 2022.
The New Numbers
In many Massachusetts counties, the limit for a single-family home has jumped to over $647,000, with even higher limits in 'high-cost' areas like Boston.
Why This Matters
This allows more buyers to access conventional financing rather than needing a Jumbo loan, which often requires a larger down payment and stricter credit scores.
Does this increase change your buying power? Let's talk to my preferred lenders and find out.