The FHFA Announces Higher Conforming Loan Limits for 2022

  We are excited to hear that the Confroming Loan Limits for a single family home have increased for 2022 to $647,200 in most counties. This is great news due to the increase in price of Single Family Homes in the Orlando area. With regard to FHA loans this will help buyers who have been priced out due to rising home prices and help with first time home ownership. Typically FHA loans mirror the Conforming loan limits set by the FHFA. What is an FHA Loan? An FHA loan is a government-backed mortgage insured by the Federal Housing Administration. FHA home loans require lower minimum credit scores and down payments than many conventional loans, which makes them especially popular with first-time homebuyers.  Typical minimum deposit is 3.5% of the purchase price.