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InstaMortgage, one of the fastest-growing mortgage companies in America, announced that they are increasing the high balance conforming loan amount to the anticipated 2022 loan limit of $937,500 in several counties in the country. Other mortgage lenders are still offering the 2021 loan limit capped at $822,375.

The new loan limits are effective immediately and borrowers applying to InstaMortgage can avail of the new loan amounts right away.

The higher loan limits are now live for high-cost counties in the states of California (CA), Idaho (ID), Maryland (MD), New Jersey (NJ), Pennsylvania (PA), Virginia (VA), and Washington (WA).

In California, the following counties will have a loan limit of $937,500:

  • Contra Costa
  • Santa Clara
  • Santa Cruz
  • San Mateo
  • San Francisco
  • Los Angeles
  • San Benito
  • Orange

San Diego County will have a Conforming High Balance loan limit of $858,705.

Some of the other counties in the country with a higher loan balance of $937,500 are listed below. The list is dominated by Virginia and New Jersey counties with representations from Maryland, Pennsylvania, and Idaho.

  • Bergen County, NJ
  • Calvert County, MD
  • Charles County, MD
  • Clarke County, VA
  • Culpeper County, VA
  • Fairfax County, VA
  • Falls Church City, VA
  • Fauquier County, VA
  • Frederick County, MD
  • Fredericksburg City, VA
  • Hunterdon County, NJ
  • Loudoun County, VA
  • Madison County, VA
  • Manassas City, VA
  • Manassas Park City, VA
  • Middlesex County, NJ
  • Monmouth County, NJ
  • Morris County, NJ
  • Ocean County, NJ
  • Passaic County, NJ
  • Pike County, PA
  • Prince George’s County, MD
  • Prince William County, VA
  • Rappahannock County, VA
  • Somerset County, NJ
  • Spotsylvania County, VA
  • Stafford County, VA
  • Sussex County, NJ
  • Teton County, ID
  • Warren County, VA

2 counties in Washington will see an immediate increase in loan limit as well.

  • King County, WA – $884,925 Loan Amount
  • Snohomish County, WA – $884,925 Loan Amount

What it means for you?

You can now get these loan limits and don’t have to worry about qualifying with Jumbo guidelines that require higher credit scores, more reserves, and restrictive requirements. Also, you can get these loan amounts for a primary residence home purchase for as low as 10% down payment.