The Federal Housing Finance Agency (FHFA) and HUD just increased buying power for conforming loan limits and some limits have increased by nearly $100K! Here are the changes and some other numbers you should know to help guide you in selecting the right property for you!
Maximum Loan Amount in Chicago Metropolitan
Statistical Area as of January 2023:
Conventional Maximum Loan Amount:
1 Unit - $726,200
2 Unit - $929,850
3 Unit - $1,123,900
4 Unit - $1,396,800
FHA Maximum Loan Amount:
1 Unit - $472,030
2 Unit - $604,400
3 Unit - $730,525
4 Unit - $907,900
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Team Elite Realtors
Julia Corkey, Vickie Schoenfeld, Rick Lawrence