New conforming loan limits have just been announced that could have a large impact on your next home purchase! Homebuyers may now borrow up to $726,200 in most counties and up to $1,089,300 in higher-cost areas. This fantastic news follows an increase to $548,250 in 2021 and an additional increase to $647,000 in 2022. That’s a 32% total increase in only two years, which is representative of much higher potential buying power for many borrowers.
Read the official announcement from FHFA.
For the latest news and to see how you can leverage these increases on your next home loan, make sure to contact your Southern Trust Loan Officer today!
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Southern Trust Team
Choosing the right mortgage depends on your goals, financial situation, and future plans. A fixed-rate loan may be best for stability, while adjustable-rate or specialty programs could suit short-term homeowners or those with unique circumstances.
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Choosing the right mortgage depends on your goals, financial situation
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Disclaimer: Choosing the right mortgage depends on your goals, financial situation, and future plans. A fixed-rate loan may be best for stability, while adjustable-rate or specialty programs could suit short-term homeowners or those with unique circumstances.
