2022 Conforming Loan Limits

The 2022 conforming limits for conventional mortgages were announced today by the Federal Housing Finance Agency (FHFA). Hawaii falls in a high-cost area and has a base loan limit that rose to nearly $1 million from the current $822,375.

2022 High-Cost Area Loan Limits – Hawaii Properties:  
- One-unit property: $970,800
- Two-unit property: $1,243,050
- Three-unit property: $1,502,475
- Four-unit property: $1,867,275

These 2022 higher loan limits for Hawaii and other high-cost areas are set at 150% of the national conforming loan limit, which starts at $647,200. Loan limits are tied to median home prices and 2021 featured strong sales and rising prices. In fact, the average sales price topped $1 million for the first time in Hawaii history. It occurred in the month of August 2021, when the median price of a single-family home on Oahu reached $1,050,000.

Higher loan limits allow borrowers to use conventional loans to make a purchase or refinance an existing loan without the need for a jumbo loan. Jumbo loans (non-conforming loans) have higher interest rates, increased costs, a larger down payment, and have more stringent credit and overall qualification requirements.

2022 conforming loan limits are available by clicking here.

Find out whether you qualify for these higher conforming loan amounts. Apply now or contact us for a no-cost consultation.