TRANSACTION CENTER LEARN & THRIVE INDUSTRY 360° YOUR C.A.R. SIGN IN SEARCH FHFA raises 2022 Fannie, Freddie loan limits EXPLORE YOUR C.A.R. Make a difference Member Benefits About Us Contact Us HOME ABOUT US MEDIA CENTER NEWS RELEASES 2021 NEWS RELEASES 2022LOANLIMITS PRINT EMAIL SAVE SHARE For release: November 30, 2021 California REALTORS® commend FHFA for raising Fannie Mae and Freddie Mac conforming loan limits LOS ANGELES (Nov. 30) – The CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) today issued the following statement in response to the Federal Housing Finance Agency’s (FHFA) announcement to increase the 2022 conforming loan limits for mortgages acquired by Fannie Mae and Freddie Mac to $647,200 on one-unit properties and a cap of $970,800 in high-cost areas. The previous loan limits were $548,250 and $822,375, respectively. “With California’s home prices climbing so significantly during the pandemic, C.A.R. commends the FHFA for recognizing the record-setting home price increases and raising maximum conforming loan limits in high-cost markets to $970,800,” said 2022 C.A.R. President Otto Catrina. “Conforming loans provide safe and affordable mortgages to California’s homebuyers across the state. If loan limits were not allowed to increase every year to keep up with home prices, first-time and moderate-income homebuyers across the state would not have access to affordable mortgage capital, which reduces homeownership opportunities for those who need it the most.” C.A.R. and the NATIONAL ASSOCIATION OF REALTORS® (NAR) both have long advocated for loan limits to reflect an area’s cost of housing. As a result of C.A.R.’s and NAR’s efforts, areas with high median home prices have benefited from a loan limit above the national conforming loan limit. The conforming loan limit determines the maximum size of a mortgage that government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac can buy or “guarantee.” Non-conforming or “jumbo loans” typically have tighter underwriting standards and sometimes carry higher mortgage interest rates than conforming loans, increasing monthly payments and hampering the ability of families in California to purchase homes by making them less affordable. Since these mortgages are guaranteed by the government, California taxpayers and households should have the same equal access to safe and affordable capital that Fannie Mae, Freddie Mac, and FHA loans provide as any other state. Leading the way... ® in California real estate for more than 110 years, the CALIFORNIA ASSOCIATION OF REALTORS® (www.car.org) is one of the largest state trade organizations in the United States, with more than 200,000 members dedicated to the advancement of professionalism in real estate. C.A.R. is headquartered in Los Angeles. # # # Featured Articles YOUR C.A.R. Media Center C.A.R.'s Media Center houses the Association's news releases, media guidelines, and logos. YOUR C.A.R. 2022 C.A.R. Officers Meet the 2022 C.A.R. Leadership Team YOUR C.A.R. Customer Service Looking for additional assistance? The Customer Contact Center is looking forward to serving you Monday through Friday between the hours of 8:30 a.m. and 4:45 p.m. HELP Login Guide Website Guide Member FAQs Legal Hotline C.A.R. Services YOUR C.A.R MEMBERSHIP Join the Organization C.A.R. Member Discounts C.A.R. Mission Statement C.A.R. Board of Directors and Committees Consumer Ad Campaign C.A.R. Business Products LEGAL Legal News C.A.R. List of Standard Forms Legal Q&As Summary Chart TOOLS Lone Wolf zipForm Edition Down Payment Resource Directory Mortgage Rescue™ Mobile Apps Standard Forms Electronic Signatures NEWS & SUBSCRIPTIONS News Releases Market Matters Newsletters MARKET DATA Housing Market Forecast Data & Statistics Housing Matters Blog Surveys & Highlights MEETINGS & EVENTS Current Meeting Materials Speeches & Presentations C.A.R. Board of Directors and Committees LEARN Upcoming Webinars Education Calendar Course Catalog GOVERNMENT AFFAIRS Local Advocacy Resources State Government Affairs Federal Issues REALTOR® Action Fund Terms & Conditions Privacy Policy Permissions To Reprint Accessibility Advertise With Us Contact Us Copyright © 2021 CALIFORNIA ASSOCIATION OF REALTORS® . SUPPORT ;