I ain’t foolin’!
Even though there’s been a whole lotta interest rate hikes in 2022. And even though there’s been a whole lotta rumbling about home values declining in some areas, the FHFA will again be increasing the conforming loan limits into 2023.
This means that where the one-unit conforming limit was $647,200 in 2022, it will become $726,200 in 2023.
And in high-cost (aka high balance) metropolitan statistical areas like much of CA, NY and other housing-expensive counties, you may see the conforming limit go from $970,800 all the way up to $1,089,300.
Note that FHA and VA loan limits fall outside of this change, so if you need to know the specific loan maximums for any program, in any area, just get in touch!
Been a long time!
SVP of Mortgage Lending
Marin Office: 324 Sir Francis Drake Blvd., San Anselmo, CA 94960
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