Thank you to Beacon Appraisal Group for compiling this report.
If there is a home that you would like more information about, if you are considering selling a property, or if you have questions about the housing market in your neighborhood, please reach out. We’re here to help.
You cannot see a single neighbor from your immaculate & beautifully updated single-level home in the pines! Watch the eagles soar or deer & wildlife roam the fields and drink from your pond. Spend time on your multiple decks or just gaze from the many large windows flooding your home with natural light all day long. Gourmet Kitchen, large Dining Space and Great Room feature natural wood ceilings, beams, vaults & windows on all sides to sync with the natural rhythm of the forest & seasons. Separation of 3 light filled bedrooms and 3 full bathrooms. Also find a separate office or TV room. Kitchen & bathrooms all updated, newer furnace, heat pump & water heater. Truly a home you may never want to leave!
Listed by Dayna Lanning for West + Main Homes. Please contact Dayna for current pricing + availability.
FOR IMMEDIATE RELEASE
11/30/2021
Washington, D.C. – The Federal Housing Finance Agency (FHFA) today announced the conforming loan limits (CLLs) for mortgages to be acquired by Fannie Mae and Freddie Mac (the Enterprises) in 2022. In most of the U.S., the 2022 CLL for one-unit properties will be $647,200, an increase of $98,950 from $548,250 in 2021.
The Housing and Economic Recovery Act (HERA) requires that the baseline CLL for the Enterprises be adjusted each year to reflect the change in the average U.S. home price. Earlier today, FHFA published its third quarter 2021 FHFA House Price Index® (FHFA HPI®) report, which includes statistics for the increase in the average U.S. home value over the last four quarters. According to the nominal, seasonally adjusted, expanded-data FHFA HPI, house prices increased 18.05 percent, on average, between the third quarters of 2020 and 2021. Therefore, the baseline CLL in 2022 will increase by the same percentage.
For areas in which 115 percent of the local median home value exceeds the baseline conforming loan limit, the applicable loan limit will be higher than the baseline loan limit. HERA establishes the high-cost area limit in those areas as a multiple of the area median home value, while setting a "ceiling" at 150 percent of the baseline limit. Median home values generally increased in high-cost areas in 2021, which increased their CLL. The new ceiling loan limit for one-unit properties will be $970,800, which is 150 percent of $647,200.
Special statutory provisions establish different loan limits for Alaska, Hawaii, Guam, and the U.S. Virgin Islands. In these areas, the baseline loan limit will be $970,800 for one-unit properties.
Due to rising home values, the CLLs will be higher in all but four U.S. counties or county equivalents.
Other Resources
List of 2022 conforming loan limits for all counties and county-equivalent areas in the U.S.
A map showing the 2022 conforming loan limits across the U.S.
Detailed addendum of the methodology used to determine the conforming loan limits.
List of FAQs that covers broader topics that may be related to CLLs.
Questions about the 2022 CLLs can be addressed to LoanLimitQuestions@fhfa.gov. For more information, visit https://www.fhfa.gov/CLLs.
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The Federal Housing Finance Agency regulates Fannie Mae, Freddie Mac and the 11 Federal Home Loan Banks. These government-sponsored enterprises provide more than $7.3 trillion in funding for the U.S. mortgage markets and financial institutions.
If there is a home that you would like more information about, if you are considering selling a property, or if you have questions about the housing market in your neighborhood, please reach out. We’re here to help.
Beautiful Wildlife and Great Fishing! Apply for a CUP, and Build Your Dream Home and Turn this into your own Paradise.
Listed by Tisha Anderson for West + Main Homes. Please contact Tisha for current pricing + availability.
This Property has a Sun Room that they have used to enjoy the mornings and evenings while visiting. Single Car Garage. Well and Older Septic. On Paved Road.
Listed by Tisha Anderson for West + Main Homes. Please contact Tisha for current pricing + availability.
