New conforming loan limits have just been announced that could have a large impact on your next home purchase! Homebuyers may now borrow up to $726,200 in most counties and up to $1,089,300 in higher-cost areas. This fantastic news follows an increase to $548,250 in 2021 and an additional increase to $647,000 in 2022. That’s a 32% total increase in only two years, which is representative of much higher potential buying power for many borrowers.
Read the official announcement from FHFA.