2022 Loan Limits for VA Mortgages
Newrez LLC “Newrez” Approved Correspondent Clients: please note, effective for VA mortgages closed on or after January 1, 2022, the 2022 Conforming and High Balance Loan Limits that were recently issued by the Federal Housing Finance Agency (FHFA) will apply to all VA Purchase and Cash-out Refinance products.
FHFA Maximum Conforming Loan Limits (CLL) are not actual caps for VA loan amounts but are used for calculating the available loan guaranty for Veterans who have only partial entitlement (when the Veteran’s home loan benefit has been used and is not restorable). Veterans with full entitlement are not restricted by the CLL and are eligible for the maximum 25% entitlement guaranty of any loan amount.
NewRez clients are reminded that all VA loan amounts must contain at least a total of 25% VA loan guaranty and/or equity position for eligibility.
Please refer to the VA Product Profile for additional details.