2022 Pennsylvania Conforming Loan Limits for PA Counties

Fannie Mae graphicWithout going into too much detail regarding Fannie Mae and Freddie Mac, consider them to be a banker's bank. So, here's what it all implies. You go to your bank and apply for a mortgage that is NOT an FHA or a VA loan (VA).

The bank grinds you down until you eventually close. Now, the bank gets a commission by selling your mortgage to Fannie Mae or Freddie Mac.

But . . . Fannie Mae and Freddie Mac will only buy mortgages UP TO a certain amount (see below).  You'll notice that most Pennsylvania counties have a mortgage limit of $510,400 for a single-family home or condominium, however, there are some exceptions.

You'll also note that the maximum loan amount rises as the number of units increases. Two-family refers to a duplex, three-family refers to a triplex, and four-family refers to a four-unit structure. JUMBO LOANS are loans that exceed certain mortgage restrictions.

Because jumbo loans cannot be sold to Fannie Mae or Freddie Mac, the bank is required to retain the loan on its records. Jumbo loan interest rates are usually higher since the bank is on the hook if there is a foreclosure. The higher the rate, the greater the danger. Too many poor loans may drag a bank... or Fannie Mae and Freddie Mac... down.

Now you may be wondering, if my mortgage is sold to Fannie Mae or Freddie Mac, why don't I make my mortgage payment to Fannie or Freddie? Keeping track of millions of mortgages would be overwhelming.

Can you image opening up a million envelopes? So Fannie Mae and Freddie Mac contracts with the banks (or servicing companies) to collect your mortgage payment every month, pay the property taxes and homeowner's insurance; and for their efforts, the bank takes a little something out of the mortgage payment every month and remits the balance to either Fannie Mae or Freddie Mac. So where does a mortgage broker fit in?

Think of a mortgage broker as a sub-contractor to the bank. The mortgage broker originates your mortgage and passes it over to a bank for a commission.

2022 Conforming (conventional) loan limits for Pennsylvania

County Name One-Family Two-Family Three-Family Four-Family
ADAMS $647,200 $828,700 $1,001,650 $1,244,850
ALLEGHENY $647,200 $828,700 $1,001,650 $1,244,850
ARMSTRONG $647,200 $828,700 $1,001,650 $1,244,850
BEAVER $647,200 $828,700 $1,001,650 $1,244,850
BEDFORD $647,200 $828,700 $1,001,650 $1,244,850
BERKS $647,200 $828,700 $1,001,650 $1,244,850
BLAIR $647,200 $828,700 $1,001,650 $1,244,850
BRADFORD $647,200 $828,700 $1,001,650 $1,244,850
BUCKS $647,200 $828,700 $1,001,650 $1,244,850
BUTLER $647,200 $828,700 $1,001,650 $1,244,850
CAMBRIA $647,200 $828,700 $1,001,650 $1,244,850
CAMERON $647,200 $828,700 $1,001,650 $1,244,850
CARBON $647,200 $828,700 $1,001,650 $1,244,850
CENTRE $647,200 $828,700 $1,001,650 $1,244,850
CHESTER $647,200 $828,700 $1,001,650 $1,244,850
CLARION $647,200 $828,700 $1,001,650 $1,244,850
CLEARFIELD $647,200 $828,700 $1,001,650 $1,244,850
CLINTON $647,200 $828,700 $1,001,650 $1,244,850
COLUMBIA $647,200 $828,700 $1,001,650 $1,244,850
CRAWFORD $647,200 $828,700 $1,001,650 $1,244,850
CUMBERLAND $647,200 $828,700 $1,001,650 $1,244,850
DAUPHIN $647,200 $828,700 $1,001,650 $1,244,850
DELAWARE $647,200 $828,700 $1,001,650 $1,244,850
ELK $647,200 $828,700 $1,001,650 $1,244,850
ERIE $647,200 $828,700 $1,001,650 $1,244,850
FAYETTE $647,200 $828,700 $1,001,650 $1,244,850
FOREST $647,200 $828,700 $1,001,650 $1,244,850
FRANKLIN $647,200 $828,700 $1,001,650 $1,244,850
FULTON $647,200 $828,700 $1,001,650 $1,244,850
GREENE $647,200 $828,700 $1,001,650 $1,244,850
HUNTINGDON $647,200 $828,700 $1,001,650 $1,244,850
INDIANA $647,200 $828,700 $1,001,650 $1,244,850
JEFFERSON $647,200 $828,700 $1,001,650 $1,244,850
JUNIATA $647,200 $828,700 $1,001,650 $1,244,850
LACKAWANNA $647,200 $828,700 $1,001,650 $1,244,850
LANCASTER $647,200 $828,700 $1,001,650 $1,244,850
LAWRENCE $647,200 $828,700 $1,001,650 $1,244,850
LEBANON $647,200 $828,700 $1,001,650 $1,244,850
LEHIGH $647,200 $828,700 $1,001,650 $1,244,850
LUZERNE $647,200 $828,700 $1,001,650 $1,244,850
LYCOMING $647,200 $828,700 $1,001,650 $1,244,850
MCKEAN $647,200 $828,700 $1,001,650 $1,244,850
MERCER $647,200 $828,700 $1,001,650 $1,244,850
MIFFLIN $647,200 $828,700 $1,001,650 $1,244,850
MONROE $647,200 $828,700 $1,001,650 $1,244,850
MONTGOMERY $647,200 $828,700 $1,001,650 $1,244,850
MONTOUR $647,200 $828,700 $1,001,650 $1,244,850
NORTHAMPTON $647,200 $828,700 $1,001,650 $1,244,850
NORTHUMBERLAND $647,200 $828,700 $1,001,650 $1,244,850
PERRY $647,200 $828,700 $1,001,650 $1,244,850
PHILADELPHIA $647,200 $828,700 $1,001,650 $1,244,850
PIKE $970,800 $1,243,050 $1,502,475 $1,867,275
POTTER $647,200 $828,700 $1,001,650 $1,244,850
SCHUYLKILL $647,200 $828,700 $1,001,650 $1,244,850
SNYDER $647,200 $828,700 $1,001,650 $1,244,850
SOMERSET $647,200 $828,700 $1,001,650 $1,244,850
SULLIVAN $647,200 $828,700 $1,001,650 $1,244,850
SUSQUEHANNA $647,200 $828,700 $1,001,650 $1,244,850
TIOGA $647,200 $828,700 $1,001,650 $1,244,850
UNION $647,200 $828,700 $1,001,650 $1,244,850
VENANGO $647,200 $828,700 $1,001,650 $1,244,850
WARREN $647,200 $828,700 $1,001,650 $1,244,850
WASHINGTON $647,200 $828,700 $1,001,650 $1,244,850
WAYNE $647,200 $828,700 $1,001,650 $1,244,850
WESTMORELAND $647,200 $828,700 $1,001,650 $1,244,850
WYOMING $647,200 $828,700 $1,001,650 $1,244,850
YORK $647,200 $828,700 $1,001,650 $1,244,850


Frequently asked questions about conforming loans and loan limits

Q. Are conventional loans federally backed?
A. Technically, the conventional loans are not backed by the Federal Government, however, the Feds will jump in to back Fannie Mae and Freddie Mac if they get into trouble.

Q. Are interest-rates higher on jumbo loans?
A. interest-rates are indeed higher than conforming loans because jumbo loans cannot be sold to Fannie Mae and Freddie Mac due to the loan size. As such, the lender (bank) has more risk and can suffer a substantial loss with a default. The lender therefore compensates for the risk by an increased interest-rate.

Q. Do conventional loan have PMI?
A. Conventional loans will have private mortgage insurance (PMI) if the loan amount is less than 80% of the value of the home.

Q. Do conventional loan require home inspection?
A. Fannie Mae and Freddie Mac (conventional loans) do not require a jome inspection. Fannie and Freddie will require an appraisal.

Q. Is a conforming loan a conventional loan?
A. Yes

Q. Is a conventional loan better than an FHA loan?
A. Conventional loans have higher lending limits and there is no upfront mortgage insurance. However, the private mortgage insurance can be pricey with conventional/conforming loans with low credit scores. Seller paid closing-cost limits are higher with FHA mortgages. In short, the conventional loan and FHA loans each have advantages and disadvantages. The choice depends on your situation.