Boise Conforming Loan Limits Increased to $647,200 in 2022

Published:
December 10, 2019
Last updated:
December 3, 2021
In This Article

Home prices in the Boise area have increased rapidly over the past year or so. As such, federal housing officials announced at the end of 2021 that the 2022 conforming loan limit for Boise have been increased.

Boise’s median home prices increased quite a bit over 2021, and the conforming loan limits for 2022 were responded to as a result.

For all cities within Ada, Boise, Canyon, Gem, and Owyhee counties, the 2022 conforming loan limit will increase to $647,200 in 2022, up from $548,250 for 2021. This is for single-family properties. For duplexes, triplexes, and multi-family properties, the limits will be higher. See the chart below for all 2022 loan limits for all property types for the above-mentioned counties.

County Name1-Unit2-Units3-Units4-Units
ADA$647,200$828,700$1,001,650$1,244,850
BOISE$647,200$828,700$1,001,650$1,244,850
CANYON$647,200$828,700$1,001,650$1,244,850
GEM$647,200$828,700$1,001,650$1,244,850
OWYHEE$647,200$828,700$1,001,650$1,244,850

Boise Conforming Loan Limits Will Be Increased For 2022

A “conforming” loan is one that does not exceed the size requirements used by Fannie Mae and Freddie Mac, the two government-sponsored entities that buy loans from mortgage lenders.

If the home loan amount is within the conforming loan size limits, it is considered a “conforming loan. ” But if the loan amount is in excess of these sizes, it is classified as a “jumbo loan.”

Borrowers who need to take out a jumbo loan will likely have to meet more stringent lending criteria because of the higher amount of money being borrowed.

In 2022, the loan limit that separates conforming and jumbo loans in Boise is increased in response to an increase in property values. In 2022, the conforming loan limit for single-family homes in the Boise area went up to $647,200, which is an increase of $98,950 from the 2021 limit of $548,250.

These loans limits are typically the same across metro areas, and in the case of Boise, that means Ada, Boise, Canyon, Gem, and Owyhee counties all have the same loan limits for 2022.

Beyond the Boise metro area, the 2022 conforming loan limit for most other Idaho counties will go up to $647,200 next year, though there are some exceptions, including the following:

  • Blaine County – $648,600 (1-unit properties)
  • Camas County – $648,600 (1-unit properties)
  • Teton County – $970,800 (1-unit properties)

Note: Qualified borrowers with sufficient income are typically able to borrow more than the conforming loan limit in their respective county, which would be considered a “jumbo” mortgage situation.

Check out our mortgage loan limit tool for conventional, FHA, and VA loans.

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Higher Home Prices Means Higher Loan Amounts in Boise

Thanks to the rise in Boise’s conforming loan limits for 2022 as a result of home-price gains that took place in 2021, borrowers can expect to take out higher loan amounts when purchasing a property, depending on how much of a down payment they put forth. These loan limits are assessed every year in relation to property values.

When the average home price for a certain area increases significantly within a year, federal housing officials will generally respond by increasing loan limits to keep up.

But Boise is not the only area that will see higher conforming loan limits in 2022, as the majority counties across the US will see increases in loan limits next year.

According to a recent press release from the Federal Housing Finance Agency (FHFA):

“The Federal Housing Finance Agency (FHFA) today announced the conforming loan limits (CLLs) for mortgages to be acquired by Fannie Mae and Freddie Mac (the Enterprises) in 2022. In most of the U.S., the 2022 CLL for one-unit properties will be $647,200, an increase of $98,950 from $548,250 in 2021.”

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