Jumbo Loans

What exactly is a jumbo mortgage?A conventional mortgage is one that "conforms" to the federal government's loan limits. Beginning on January 1, 2022, the new conforming loan limits will be $647,200 in most of the United States and $970,800 in high-cost areas. A jumbo loan, also known as a Jumbo Mortgage, is a non-conforming loan that exceeds $647,200 or $970,800 in high-cost areas. Minimum conforming loan limits
The following are the standard loan limits for 2022, which apply in most of the United States:
Homes with one unit: $647,200
Homes with two units: $828,700
Homes with three units cost $1,001,650.
Homes with four units cost $1,244,850.
Remember that these are just the 'baseline' limits. Buyers in high-cost areas receive significantly higher conventional mortgage limits.Maximum conforming loan limits
Loan limits for high-balance conforming loans differ by county. They can fall into one of the following categories:

Single-family homes range in price from $647,201 to $970,799
Homes with two units range in price from $828,701 to $1,243,049
$1,001,651-$1,502,474 for three-unit homes
$1,244,851-$1,867,274 for four-unit homes
Maximum conforming loan limits are available in Alameda County, California, Arlington, Virginia, and Jackson, Wyoming, while cities such as Seattle, Washington, and Baltimore, Maryland fall between the "floor" and the "ceiling."
The baseline loan limit for a one-unit property in Alaska, Hawaii, Guam, and the United States Virgin Islands, which have their own loan limit rules, is $970,799 in 2022.