Financial Bottleneck Update – Getting Worse, Do Not Procrastinate …. FHFA Conforming Home Loan Adjustment New Amount …. 18% Increase to $647,200 … Wow … Compared to 2020 Increase of 7.5% …. Inflation? … Maybe … Friday

Warning: Financial Bottlenecks are ….. well getting MORE bottlenecked

Do not procrastinate on transactions, especially ones planned, like donations, tax issues, account adjustments or necessary known in advance needed movement of money…

Do it now and avoid the stress if at all possible!

Ok, back to our regularly scheduled, a bit heavy Friday Post: FHFA Stunning Value Increase

A conforming or NON-jumbo Mortgage loan tends to have easier qualification terms, lower rates and lower down payment options … Of course each situation is different, but just on the normal margin, the preceding tends to be true…

FHFA Ups new confirming amount by 18% .. Wow

Earlier this week the FHFA here in this announcement, made the large increase announcement…

On a side note, just really enjoy the connections of the dots via our Government Agencies…OK, Digressing…

FOR IMMEDIATE RELEASE 11/30/2021

Washington, D.C. – The Federal Housing Finance Agency (FHFA) today announced the conforming loan limits (CLLs) for mortgages to be acquired by Fannie Mae and Freddie Mac (the Enterprises) in 2022. In most of the U.S., the 2022 CLL for one-unit properties will be $647,200, an increase of $98,950 from $548,250 in 2021. 

Prior Year Release of 7.5%

Fannie Mae and Freddie Mac Baseline Limit Will Increase to $548,250

FOR IMMEDIATE RELEASE11/24/2020

​Washington, D.C. – The Federal Housing Finance Agency (FHFA) today announced the maximum conforming loan limits for mortgages to be acquired by Fannie Mae and Freddie Mac in 2021.  In most of the U.S., the 2021 maximum conforming loan limit (CLL) for one-unit properties will be $548,250, an increase from $510,400 in 2020. 

Some takeaways:

  • Great for homeowners as they fight higher prices
  • Especially for possible new young homeowners that would not have otherwise qualified
  • Inflationary?
  • Possible, another, not cheap asset class

Did not mean to get all heavy on a Friday, but thought it worth noting……

Have a Great Friday, Super Weekend and Talk Next Week!

John A. Kvale CFA, CFP

Founder of J.K. Financial, Inc.

A Dallas Texas based fee only

Financial Planning Total Wealth

Management firm.

jkfinancialinc

street-cents

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