In two months, it’s anticipated that the Federal Housing Finance Agency (FHFA) will issue an official decree announcing their 2022 baseline limits. This anticipated change will raise the nonconforming loan ceilings to $625,000 for a one-unit property. This $75,000 increase from the current maximum loan limit reflects rising home prices and will benefit some borrowers.
Priority Home Lending is one lender adopting new forecasted conforming loan limits early. If you have clients who may be interested in a conforming loan up to $625,000, Priority is now offering this financing on one-unit properties with 75- and 90-day locks.
