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Jumbo loan limits 2022: What you need to know

Dec. 22, 2021 • 5 min read

What we'll cover

  • Loan limits across different states

  • Stricter requirements of jumbo loans

  • How jumbo loan rates are determined

A jumbo loan could fit you like a glove if you’re buying a more expensive home and need to borrow more than the conforming loan limits allow. So, if you’re looking at an upscale property or simply one in an area of the country where the cost of living is high, here’s what you need to know about the jumbo loan limits in 2022.

Mortgages aren’t one-size-fits-all and  jumbo loans  are no exception. Essentially, a jumbo loan is a mortgage that exceeds baseline amounts set by Federal National Mortgage Association (Fannie Mae) and Federal Home Loan Mortgage Corporation (Freddie Mac) guidelines. Since jumbo loans do not have upper limits established by the agencies mentioned, it’s up to your lender to determine the ceiling amount for jumbo loan limits.

Minimum and maximum loan amounts

If you are wondering whether you’ll need a jumbo loan, you need to consider the limits set for conforming loans and U.S. Federal Housing Administration (FHA) loans. The agency-set maximum limits for these loans provide a baseline for jumbo loans.

Most parts of the country have one maximum loan amount for conforming loans. In some high-cost areas, such as Washington D.C. and certain California counties, the threshold for the maximum conforming loan is higher.

For 2022, the  Federal Housing Finance Agency raised the maximum conforming loan limit  for a single-family property from $548,250 (in 2021) to $647,200. In certain high-cost areas, the ceiling for conforming mortgage limits is 150% of that limit, or $970,800 for 2022.

See our county-by-county chart below, which highlights all counties with 2022 conforming loan limits above the standard $647,200.

Those limits apply to conforming loans that follow Fannie Mae or Freddie Mac guidelines. A different loan limit kicks in if you’re  buying a home in 2022 using an FHA loan , which is backed by the Federal Housing Administration. The maximum FHA loan limit for one-unit properties in low-cost areas in 2022 is $420,680, up from $356,362 in 2021. The maximum limit for one-unit properties in approximately 70 high-cost counties has been raised to $970,800, up from $822,375 in 2021.

Keep in mind, the Federal Housing Finance Agency may increase conforming loan limits again for 2023. If you are planning on taking out a mortgage loan in 2023, check back here for updates on loan limits.

Jumbo loan requirements

Because a jumbo loan means you’re taking out a larger-than-typical mortgage, lenders impose  stricter requirements  than they might for a traditional loan. They will examine several aspects of your financial health and things like your income to assess whether you can afford a bigger mortgage and if you are likely to pay it back on schedule.

Lenders will look at the following benchmarks:

  • Credit score: The minimum credit score required for a jumbo loan is typically 700.

  • Debt-to-income (DTI) ratio: Lenders look for a low  DTI ratio , usually no higher than 43 percent.

  • Down payment minimum: While a 20% down payment may not be required for conforming loans, some lenders require 20% (or more) for jumbo loans.

They will also look for a good, steady income. This is because they want to know you can afford higher monthly payments and typically higher interest rates that come with jumbo loans as opposed to traditional mortgages.

What are jumbo loan rates?

Jumbo home loans come with a fixed rate which indicates the amount of interest you are charged in exchange for the amount lent by your financing company. Rates can vary and are influenced by individual factors and Federal Reserve benchmarks.

Interest rates for jumbo loans change daily. You can visit Bankrate to  view current jumbo loan interest rates .

Is a jumbo loan right for you?

Now that you know more about jumbo loan limits, you can begin to determine if it’s your  best choice for a mortgage . You’ll want to consider whether you will meet the requirements for a jumbo loan and if you will be able to handle the larger costs associated with a bigger mortgage.

If you are in the market for a bigger home, you might also be in the market for a jumbo mortgage. So, as you conduct your home search, keep an eye on current jumbo loan limits and possible changes to jumbo loan limits for 2023. Talking to a jumbo loan expert can help you decide if you should go big with your mortgage in order to go home.

This chart below shows 2022 jumbo loan limits  in U.S. counties and territories with  conforming loan limits above the standard $647,200.

2022 jumbo loans limit by area
State/Territory         County Limit
Alaska All counties $970,800
California Ventura County $851,000
California El Dorado County, Placer County, Sacramento County, Yolo County $675,050
California Santa Barbara County $783,150
California San Luis Obispo County $805,000
California Sonoma County $764,750
California Monterey County $854,450
California San Diego County $879,750
California Napa County $897,000
California Alameda County, Contra Costa County, Los Angeles County, Marin County, Orange County, San Benito County, San Francisco County, San Mateo County, Santa Clara County, Santa Cruz County $970,800
Colorado Adams County, Arapahoe County, Broomfield County, Clear Creek County, Denver County, Douglas County, Elbert County, Gilpin County, Jefferson County, Park County $684,250
Colorado San Miguel County $756,700
Colorado Boulder County $747,500
Colorado Routt County $678,500
Colorado Garfield County, Pitkin County $856,750
Colorado Eagle County $862,500
Colorado Summit County $822,375
Connecticut Fairfield County $695,750
Florida Monroe County $710,700
Guam Guam $970,800
Hawaii All counties $970,800
Idaho Blaine County, Camas County $648,600
Idaho Teton County $970,800
Maryland Calvert County, Charles County, Frederick County, Montgomery County, Prince George's County $970,800
Massachusetts Essex County, Middlesex County, Norfolk County, Plymouth County, Suffolk County $770,500
Massachusetts Dukes County, Nantucket County $970,800
New Hampshire Rockingham County, Strafford County $770,500
New Jersey Bergen County, Essex County, Hudson County, Hunterdon County, Middlesex County, Monmouth County, Morris County, Ocean County, Passaic County, Somerset County, Sussex County, Union County $970,800
New York Dutchess County, Orange County $726,525
New York Bronx County, Kings County, Nassau County, New York County, Putnam County, Queens County, Richmond County, Rockland County, Suffolk County, Westchester County $970,800
Pennsylvania Pike County $970,800
Tennessee Cannon County, Cheatham County, Davidson County, Dickson County, Macon County, Maury County, Robertson County, Rutherford County, Smith County, Sumner County, Trousdale County, Williamson County, Wilson County $694,600
U.S. Virgin Islands St. Croix Island, St. John Island, St. Thomas Island $970,800
Utah Summit County, Wasatch County $970,800
Virginia Alexandria City, Arlington County, Clarke County, Culpeper County, Fairfax City, Fairfax County, Falls Church City, Fauquier County, Fredericksburg City, Loudoun County, Madison County, Manassas City, Manassas Park City, Prince William County, Rappahannock County, Spotsylvania County, Stafford County, Warren County $970,800
Washington King County, Pierce County, Snohomish County $891,250
Washington D.C. District of Columbia $970,800
West Virginia Jefferson County $970,800
Wyoming Teton County $970,800

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