It was announced recently that Conventional Loan & FHA Loan Limits are increasing in 2022. It's a significant jump from previous years. This is awesome & much needed for real estate in Utah
Conventional & FHA Loan Limits Have Increased for 2022!
Dated: December 10 2021
Views: 387
It was announced recently that Conventional Loan & FHA Loan Limits are increasing in 2022. It's a significant jump from previous years. This is awesome & much needed for real estate in Utah!
First Colony Mortgage have put together a few quick numbers on what prices can now be with a minimum down payment & how great this is for buyers.
Conventional
OLD Utah County Conventional loan limit- $548,250
Max Purchase price with minimum 5% down- $577,100
***NEW Utah County Conventional Loan limit- $647,200
Max purchase price with minimum 5% down- $681,250 (increase of $104,000 from 2021 limit with minimum down payment!)
FHA
OLD Utah County FHA loan limit- $439,300
Max purchase price with min 3.5% down- $455,000
***NEW Utah County FHA Loan limit- $508,300
Max purchase price with min 3.5% down- $526,700 (Increase of $71,000+ from 2021)
OLD Salt lake County FHA loan limit- $453,100
Max Purchase price with min 3.5% down- $469,500
***NEW Salt Lake County FHA loan limit- $523,250
Max Purchase price with min 3.5% down- $542,000 (increase of $72,000+ from 2021)
SUMSION REAL ESTATE
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