Highlands Residential Mortgage Resources

FHA Loan Limits

By: Highlands Residential Mortgage

The Federal Housing Agency (FHA) has just increased the amount of money that can be borrowed through its mortgage programs by more than $64k in most areas. In high-cost locations, the increase is even greater. New limits will take effect in 2022.

The increases will allow more borrowers to take advantage of FHA’s benefits:

  • Low down payment options
  • Lower total cash-to-close requirements with gift or seller contributions
  • More lenient and streamlined refinancing
  • Ability to combine purchase and rehab financing
  • In some high-cost areas, higher loan limits than conventional mortgages

Here are the specifics:

  • In most areas, the FHA loan limit will be $420,680, an 18% increase over 2021’s limit of $356,362.
  • In high-cost areas, the limit moves to $970,800, an 18% increase over 2021’s $822,375.
  • In some lower-cost areas or those with higher costs of construction, limits will vary.

If you have questions about what this change could mean for you, please reach out to a Highlands Loan Officer today!

*Highlands Residential Mortgage, Ltd. is not acting on behalf of or at the direction of FHA or the federal government.

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