Homebuyers Will Be Able to Get Larger Government-Backed Mortgages in 2022
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Skyrocketing home prices have plagued buyers for much of the last year. While 2022 will likely see more of the same, homebuyers will at least have one new crutch to lean on: Bigger government-backed mortgage loans.
According to the Federal Housing Finance Agency, conforming loan limits — or the maximum buyers can get with a conventional, Fannie Mae- or Freddie Mac-backed mortgage, are increasing significantly in the new year.