New Loan Limits
| The Case-Shiller Home Price Index which is regarded as the best report on home price inflation revealed that in September home prices across the country rose 1% from August. And from September 2020 to September 2021 home prices appreciated 19.5%.Here in Metro Denver our home prices appreciated by 21.2%. Also released last week the was the FHFA Home Price Index which measures home price appreciation on homes with loans from Fannie and Freddie. Home prices appreciated by 0.9% in September from August and prices appreciated by 18.5% from September 2020 to September 2021. Here in metro Denver our home prices appreciated by 19.1% The FHFA Home Price Index is what sets the new conforming loan limits for 2022 as follows—· – National conforming loan limit is $647,200· – Metro Denver’s High Balance loan limit is $684,250. Thus jumbo loans will soon begin at $684,251.· FHA’s maximum loan amount in metro Denver is $684,250.· However, FHA’s maximum loan amount in Larimer County is much lower at $522,100 and even lower in El Paso County at $460k. |