UPDATE: Dec 2021 FHFA announced updated limits of $647,250 - https://www.fhfa.gov/DataTools/Downloads/Pages/Conforming-Loan-Limits.aspx
Great news! Loan limits are going up and up for 2022. For 2021, the loan limit in Colorado Springs on single-family homes is $548,250. In 2022, it’s jumping up by $76,000 to roughly $625,000. That means in El Paso County, the conforming loan limits will be $625,000, and anything over that would be considered a jumbo loan.
For two-unit houses, that limit will be $800,000. A three-unit will be $967,000, and a four-plex (assuming you live in one of them) will be $1.2 million. This is all fantastic information going into 2022. A little note: For the next few months we’re at that 2021 limit, but you can submit loans now under the new limit and still get normal pricing.
If you have any questions or mortgage needs, feel free to give us a call. We’d love to help.
Learn more here: https://www.719lending.com/loan-limits-are-through-the-roof
719 Lending is a premier southern Colorado Mortgage Broker. We believe in being transparent, friendly and 100% honest. For the best mortgage experience combined with incredible rates, contact us today.
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