Feature Enhancements in Version 21.3 Critical Patch 2

General Conforming Loan Limits and High-Cost Loan Limits

The Federal Housing Finance Agency (FHFA) has announced the 2022 conforming loan limits. In the majority of the U.S., the 2022 maximum conforming loan limit for one unit properties will be $647,200, which is an increase of $98,950 from $548,250 in 2021. The new ceiling loan limit for one unit properties in most high-cost areas will be $970,800 or 150% of $647,200 (baseline loan limit). As a result of rising home values, the increase in the baseline loan limit, and the increase in the ceiling loan limit, the maximum conforming loan limit will be higher in 2022 in all but 4 counties or county equivalents in the U.S. The new conforming loan limits will be effective December 10, 2021.

For additional information, refer to the FHFA Conforming Loan Limits announcement. You can also download a list of 2022 conforming loan limits for all counties and county-equivalent areas in the U.S.

VA Maximum Guaranty Amounts

The VA maximum guaranty amounts will be populated using only the one-unit limit from the general conforming loan limits. The new guaranty amounts will be effective December 10, 2021.

FHA Loan Limits

The Federal Housing Administration (FHA) has published its loan limits for 2022. The Encompass Product & Pricing Service has been updated to use the new 2022 FHA loan limits for loans with an effective date/FHA case number date on or after midnight, January 1, 2022. For loans with an effective date/FHA Case number date prior to midnight, January 1, 2022, there are no changes.

For additional information, refer to the United States Department of Housing and Urban Development (HUD) Maximum Mortgage Limits 2022 announcement.