Originating & Underwriting

Loan Limits

The Federal Housing Finance Agency (FHFA) publishes annual conforming loan limits that apply to all conventional loans delivered to Fannie Mae. These include baseline and high-cost area loan limits; high-cost areas vary by geographic location.


Loan Limits for 2022

The conforming loan limits for 2022 have increased and apply to loans delivered to Fannie Mae in 2022 (even if originated prior to 1/1/2022). Refer to Lender Letter LL-2021-16 for specific requirements.

Maximum Baseline Loan Amount for 2022

Units Contiguous States, District of Columbia, and Puerto Rico Alaska, Guam, Hawaii, and the U.S. Virgin Islands
1 $647,200 $970,800
2 $828,700 $1,243,050
3 $1,001,650 $1,502,475
4 $1,244,850 $1,867,275

Maximum Ceiling for Loan Amounts in High-Cost Areas for 2022

+A number of states (including Alaska and Hawaii), Guam, Puerto Rico, and the U.S. Virgin Islands do not have any high-cost areas in 2022.

Units Contiguous States, District of Columbia+ Alaska, Guam, Hawaii, and the U.S. Virgin Islands
1 $970,800  
2 $1,243,050  
3 $1,502,475  
4 $1,867,275  

2022 Loan Limits Overview

  • Loan limits increased for all but 16 counties across the country, including Alaska, Hawaii, Guam, and the U.S. Virgin Islands.
  • In four counties, the limits remained unchanged.
  • Twelve counties moved from being high-cost areas (and subject to high-balance policy) to the baseline loan limits. 

 

2022 High-cost Counties/Metropolitan Statistical Areas (MSA)

  • There are high-cost areas within the following states: California, Colorado, Connecticut, District of Columbia, Florida, Idaho, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Tennessee, Utah, Virginia, Washington, West Virginia, Wyoming.
  • The high-cost area limits published in Lender Letter-2021-16 are the statutory ceilings provided by FHFA, but should not be used to determine the loan amount. Lenders must find the applicable loan limit for counties/MSAs in the Loan Limit Look-Up Table or on FHFA's web page.