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2022 Loan limits for Conventional, FHA, and VA, loans
🏘 FHA LOAN LIMITS 🏘
Riverside/San Bernardino – $562,350
(Max Purchase Price with 3.5% down = $582,746)
San Diego County – $879,750
(Max Purchase Price with 3.5% down = $911,658)
LA /Orange County – $970,800
(Max Purchase Price with 3.5% down = $1,006,010)
🏘 CONVENTIONAL CONFORMING LOAN LIMITS 🏘
Riverside/San Bernardino County – $647,200
(Max Purchase Price with 5% down = $681,283)
San Diego County – $879,750
(Max Purchase Price with 5% down = $926,052)
Orange / LA County – $970,800
(Max Purchase Price with 5% down = $1,021,894)
VA HAS NO LOAN LIMITS
VA Loans, There will still be no loan limits on VA loans in 2022, so no change from 2021, which is fantastic for VA buyers.
It’s that time of year again! New loan limits for 2022 were just announced at the end of November 2021
Loan limits for Riverside County, San Diego County, Orange County, and Los Angeles County tend to increase every year, so why is this good news for home buyers and sellers? When loan limits are increased its to help buyers to keep up with the rising home prices, so by increasing the loan limits this gives buyers more buying power, but on the flip side, this also raises home prices putting more money in the sellers pocket to help them move up or down by using their home’s equity. Some people might ask if this is a bad thing, well simply put with inflation on the rise in 2021 it was expected for home prices to increase like everything else, so as long as the feds keep the interest rates low then this should be a win-win for all buyers and sellers.
Start working with the Top Rated Temecula Valley Real Estate Experts Michael & Anita Marchena
If you or anyone you know has been thinking about buying or selling real estate, 2022 looks to be another great year with these new loan limits for Riverside County, San Diego County, Orange County, and Los Angeles County. Feel free to contact us if you have any questions or if you would like to get the process started. Michael & Anita Marchena are local Realtors located in Temecula, California 92592, but service all of Temecula Valley, including but not limited to Temecula, Murrieta, Menifee, Winchester, French Valley, Wildomar, Hemet, San Jacinto, Perris, Lake Elsinore, Corona, and all surrounding areas.
Contact your local Realtor’s Michael & Anita Marchena today at 951-392-8511
Do you want to start the loan process to purchase a home? Tobie Love can help!
Contact our preferred lender Tobie Love at (951) 704-1988 to see what you qualify for, and let’s get you into a new home in 2022.
