FHA Loan Limits

February 26th, 2014

Each year HUD sets the FHA loan limits according to the median home prices calculated based on statistics that vary by region in various counties in all 50 states.  Once HUD assesses the FHA loan limits, they send it to Congress to be included in financial legislation that is voted on.

The Association of Realtors has asked Congress to make it a priority to bolster the Federal Housing Administration.  The Realtors see the FHA loan programs as essential for the housing sector to recover.  Most realtors promote the benefits of FHA home loan programs to first time home buyers.  The group is also pushing Congress to extend the FHA limits nationally with special provisions for high-cost loan limits. The Realtors would also like to get flood and disaster insurance reforms passed as part of their push on Capitol Hill this week during NAR 2010 Midyear Legislative Meetings & Trade Expo. 

FHA mortgage limits range from $225,000 to $729.750 depending on the high cost regions designated by HUD.  If 2011 FHA loan limits remain at the level the 2010 loan limits were set, most mortgage executives would consider it a successful initiave for rebuilding the home sales and mortgage markets.

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