Effective immediately, Gateway First Bank is accepting new locks for loans with the conforming loan limit increases for standard and high balance loans, as announced by the FHFA on 11/30/21.  In most areas, the conforming loan limit for 1-unit properties has increased to $647,200 from $548,250 and the 1-unit high balance limit has increased from $822,750 to $970,800.  Loan amounts do vary by property location and number of units.  For a complete listing of loan limits by county please see the FHFA announcement located here.

Loans with AUS approve/ineligible results, solely due to the loan amount exceeding 2021 limits but meeting 2022 limits, are eligible for purchase by Gateway.  Please note, if a DU loan has more than just loan amount for ineligible feedback, we will request DU be re-run prior to loan purchase.  LPA loans must be ineligible only due to the loan amount exceeding 2021 limits but fitting within 2022 limits.

Please contact your Regional Sales Manager with any questions.