2022 LOAN LIMITS - What Homebuyers Need to Know!

[@DollarADay]

Great video and editing! Does someone edit your videos?

[@AARONPAULCOMPOSER]

Great content that anxious home buyers need to help them make INFORMED decisions!

[@missdagmara]

Hi old friend! Glad to see you on here.

[@CatonDelRosario]

*The FHFA usually announces the new loan limits in November so make sure you SUB because I'll be making a longer video talking about the different limits for high cost of living, FHA loans, and more!* Edit 10.7.21 - Several more lenders are rolling out the $625k limit BUT so far only Alaska and Hawaii HCOL areas are being accepted at loan amounts up to $937,500 (150% more than conforming limit). So it may be safe to assume this will be the HCOL limit for places like Los Angeles, San Francisco, etc. once they roll out later this year, but not any sooner.

[@allisongreen8627]

Will I have to wait until 2022 to purchase under the new loan limits?

[@CatonDelRosario]

Nope! Most lenders are already accepting applications with the new limits! You could buy a home today and take advantage of these new limits and likely a better rate!

[@ronnieguthrie8649]

Typically, does FHFA take conforming loan limits, multiple it by 1.5 to calculate the high balance limits for high cost areas?

[@CatonDelRosario]

Typically, yes. You’ll see this in areas like Los Angeles but doesn’t always follow for other HCOL areas like San Diego. Our high balance limit in 2021 was $753,250 vs $822,375 in LA. I personally believe there shouldn’t be a difference that large between two very similar locales it would make things simpler across the board. So in this case safe to assume HCOL areas will be at $937,500 if the trend continues.

[@regina627]

What are the new loan limits for LosAngelas?

[@CatonDelRosario]

Confirming limit is nationwide so $625k but the high balance limit is expected to be about 150% of that so best guess is it should end up around $937,500 if and when it gets announced late this month or early November.

[@cindyramos4495]

So do loan limits change all the time?

[@CatonDelRosario]

usually every november FHFA and FHA announce their new loan limits for the following year!

[@kristinal4226]

Great video. My lender said these new loan limits don’t apply until 2022. I’m in Atlanta GA. Can you please connect me with a lender?

[@CatonDelRosario]

absolutely shoot me an email [e-mail]