Great News for buying Real Estate!
Federal Housing and Finance Agency (FHFA) has announced increase loan limits for 2022. The new conforming loan limits for high cost areas, which includes the bay area will be:
$970,800 for 1 unit
$1,243,050 for Duplexes
$1,502,475 for Triplexes
$1,867,275 for Fourplexes
This will help borrowers put less down to buy a home or property, including getting started with real estate investing.
Only put 3.5% down for an owner occupied SFR at $1,060,010 purchase price or an owner occupied fourplex at a $1,935,000 purchase price.