December 2, 2021

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Get Ready For Your New Home In 2022

FHA Loan Limits

Are you considering a home loan in 2022?

There are many options and while the FHA home loan limits for the new year have not been announced at press time, borrowers should know the FHA loan limits for 2021 were increased over the previous year. 

Will that happen again in 2022? Time will tell but it’s a good idea to start thinking about your home loan as early as possible to get ready with a budget and a plan.

FHA Forward Mortgage Options In 2022

The “forward mortgage” is the kind of loan you will use to buy your dream home. They are also known as “purchase loans” and simply as “home loans”. 

And with the FHA Single Family Home Loan program, your forward mortgage loan options are not just for typical houses in the usual places. 

FHA Mobile Home Loans

You can use an FHA mortgage to buy a condo unit, a mobile or manufactured home, or even a duplex or multi-unit property. And in 2022 rules are changing for mobile homes and manufactured homes–you may find it easier to buy a mobile home with an FHA mortgage in the new year.

FHA mobile home loans are not offered by every single participating lender on the market, but those who do can help you if you want to own a home but need a lower price point.

Manufactured homes and mobile homes have some unique requirements including a rule that the home securing the FHA mortgage must be transported directly from the dealer or manufacturer to the site where the home will remain permanently. 

FHA Condo Loans

The FHA condo loan is also an option. You will be required to choose a condo project that is FHA-approved or added to the approved list. IN some cases you may be able to purchase a condo unit in a larger project that’s not on the approved list if the condo meets FHA guidelines.

Rehab Loans in 2022

FHA home loans can also be used to purchase a home unable to meet the requirements of the appraisal process when purchased; the FHA 203(k) Rehabilitation Loan allows the borrower to purchase a fixer-upper home, and there is also a version that can be used in federally declared natural disaster areas.

FHA Rehab loans have a rule that the home must be brought into compliance with FHA minimum standards plus state/local building code within a specified time as a condition of loan approval. Borrowers cannot purchase these homes with an FHA rehab loan unless there is a specific plan and intent to repair them within a certain time frame.

FHA Mortgages Are For Real Estate

The home you buuy with an FHA mortgage must ultimately have an FHA appraisal. In general, your new home must meet FHA and lender requirements in order to be deemed suitable for purchase with an FHA mortgage.

And no matter what kind of property you wind up deciding to buy, FHA loan rules state that the home must be taxable and legally classifiable as “real property” or real estate as a condition of loan approval. That is why you can’t buy a houseboat or an RV with an FHA mortgage–they can’ be classified as real estate.

Joe Wallace - Staff Writer

By Joe Wallace

November 10, 2021

Joe Wallace has been specializing in military and personal finance topics since 1995. His work has appeared on Air Force Television News, The Pentagon Channel, ABC and a variety of print and online publications. He is a 13-year Air Force veteran and a member of the Air Force Public Affairs Alumni Association. He was Managing editor for for (8) years and is currently the Associate Editor for

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About was launched in 2010 by seasoned mortgage professionals wanting to educate homebuyers about the guidelines for FHA insured mortgage loans. Popular FHA topics include credit requirements, FHA loan limits, mortgage insurance premiums, closing costs and many more. The authors have written thousands of blogs specific to FHA mortgages and the site has substantially increased readership over the years and has become known for its “FHA News and Views”.

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