HUD Announces New FHA Loan Limits for 2019

Filed in Housing Finance by on December 14, 2018 0 Comments

The Federal Housing Administration (FHA) today announced its loan limits for 2019. The nationwide rise in median home prices indicates most buyers across the country — including those in more than 3,000 counties — will see increases.

The FHA floor will increase from $294,515 to $314,827. This base limit applies to areas where 115% of the area median home price is less than $314,827.

The FHA high-cost ceiling will increase from $679,650 to $726,525.  High-cost areas are those where 115% of the median home price is greater than the floor ($314,827).  In these areas, the limit equals 115% of the median home price up to the FHA ceiling ($726,525).

In 181 counties, FHA’s loan limits will remain unchanged, and there are no counties where the limit decreased. The new loan limits will apply to all loans assigned FHA case numbers on or after Jan. 1, 2019. The 2019 FHA loan limits by Metropolitan Statistical Area (MSA) or county can be reviewed on FHA’s loan limits webpage.

FHA also increased the loan limits for its Home Equity Conversion Mortgage (HECM), or reverse mortgage program, from $679,650 to $726,525. FHA HECM program regulations do not allow loan limits to vary by MSA or county, so this limit applies to all mortgages regardless of location.

For more information, contact Curtis Milton at 800-368-5242 x8597.

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