FHA Loan Limits Increase In 2022
The yearly review is not guaranteed to produce new FHA loan limits in every zip code--many stay the same year over year. Others do not.
In 2022, FHA loan limits are going up--there are higher limits for purchase loans and FHA reverse mortgages scheduled for the year 2022. The FHA and HUD have published two mortgagee letters explaining the new limits.
Higher forward mortgage loan limits for FHA loans in 2022 are available to view on the FHA and HUD official sites but do not take effect until the new year. If you apply for an FHA mortgage your loan limit will depend on the date of the FHA case number assigned to the mortgage.
FHA loan limit calculations include “a nationwide forward mortgage limit ‘floor’ and ‘ceiling’ for a one-unit property. For the new year the floor is $420,680 (low-cost areas) and the ceiling is $970,800 (high-cost areas) in 2022.
The FHA loan limit floor is 65% of the national conforming loan limit of $647,200 for a single-unit property, but multi-unit properties in low-cost areas have higher limits:
- Two-unit: $538,650
- Three-unit: $651,050
- Four-unit: $809,150
- One-unit: $970,800
- Two-unit: $1,243,050
- Three-unit: $1,502,475
- Four-unit: $1,867,275
- One-unit: $1,456,200
- Two-unit: $1,864,575
- Three-unit: $2,253,700
- Four-unit: $2,800,900
Disclosures Give Transparency to Borrowers
Understanding the Purpose of Your Mortgage Down Payment
Putting Money Into Your Escrow Account
Do you know what's on your credit report?
Learn what your score means.