The Federal Housing Finance Agency (FHFA) announced new 2022 conforming loan limits – the amount Fannie Mae and Freddie Mac can acquire rose by a hefty 18.05%. In Broward County specifically the limit rose to $647,200 – an increase of $98,950 from $548,250 in 2021.
“With the continuous rising of home prices, the National Association of Realtors® appreciates the FHFA resetting the national and high-cost conforming loan limits,” says NAR President Rouda Smith in a statement. “The FHFA’s actions will continue to ensure liquidity for home purchase market.”
As a seller, if your home is valued within the $647k price point, you will have more approved buyers in the market for your home. As a buyer, you now have increased buying power allowing you more options in the market. Schedule an exclusive real estate consultation to see how you can take advantage of the new FHFA limits.