2022 Loan Limits and Down Payment Requirements

 In Common Questions, First-Time Home Buyers

Here is a review of the 2022 loan limits and down payments requirements for conventional, FHA, and VA loans.

For conventional loans (non-government loans), the maximum loan size for loans that are not jumbo loans is $684,250 in the Metro-Denver counties, and $747,500 in Boulder County.  These loans only require 5% down.  If you need a mortgage for more than these amounts, you can get a jumbo loan, which requires at least 10% down, although 20% down will get you a much lower interest rate.

For FHA loans, the maximum loan size in the Metro-Denver counties is also $684,250, and in Boulder County, it is also $747,500.  FHA loans only require 3.5% down.

There is no maximum size for VA loans.  However, if the loan size is higher than $684,250 in the Metro-Denver counties, or $747,500 in Boulder County, you will need to put down 25% of the amount that exceeds those amounts.  If you get a VA loan for less than these amounts, there is no down payment (0% down).

Down payment assistance loans are also available for people who do not have the minimum down payment amount available.  The maximum loan size and down payment requirements for these loans depend on a number of different factors, so please contact us for more information.

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