Rising home prices lead to higher loan limits for 2022

Across most housing markets, the new conforming loan limit will be $647,200 in 2022, an increase of $98,950 compared to 2021’s limit of $548,250. Borrowers who need to finance a larger sum for a home purchase will need to apply for a jumbo loan, which often has stricter guidelines for borrowers, larger down payment requirements and sometimes higher interest rates because of the risk associated with a bigger loan.

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