2022 Conforming Loan Limits: What’s the Most You Can Borrow?

The Federal Housing Finance Agency (FHFA), which oversees Fannie Mae and Freddie Mac, is required by the Housing and Economic Recovery Act to review and adjust the loan limits annually according to the economy and changes in home prices.

In 2022, the borrowing limit for a single-unit home in most parts of the country is $647,200, up from $548,250 in 2021. This limit may vary greatly, particularly in high-cost areas such as San Francisco, New York City and Washington D.C. To search for loan limits by county, click here.

Understanding Conforming Mortgage Loan Limits

A conforming loan limit is the dollar cap on a mortgage that Freddie Mac and Fannie Mae are willing to buy or guarantee. This limit is adjusted each year to reflect changes in average home prices. So how much you can borrow is not only determined by you as an individual – your creditworthiness, how much you can afford, etc. – but it is also impacted at an industry level!

Mortgages that exceed the conforming loan limit are classified as “non-conforming” or “jumbo” loans. For questions on 2022 loan limits, don’t hesitate to reach out to your Pulte Mortgage Representative!