Conventional & FHA Loan Limits Have Increased for 2022!

Dated: December 10 2021

Views: 343

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)

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SUMSION REAL ESTATE

The Sumsion name has been engrained in the Utah community for almost 2 centuries! We are a grass-roots, family-owned business and the satisfaction of our clients will always be our #1 priority. Wheth....

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