FHFA announced the baseline conforming loan limit will increase to $647,200 (from $548,250 in 2021) on November 30, 2021. Depending on the location of the property, the loan limit may be higher. If you’d like to find more specific information, click on the link below to read the news release.
FHFA Announces Conforming Loan Limits for 2022 | Federal Housing Finance Agency
What does this mean for you? If you have a loan amount that’s currently in Jumbo territory, this is a great chance to refinance into a lower rate or lower payment. If you have two loans, let’s review to get them combined into one loan. Or perhaps you would like to take equity out of your home to pay off other debts, the rates are still near historical lows. We can close your loans before the end of 2021. Contact me today at 925-216-3618 or annie@changteam.com.
