FHA Guidelines Update: New FHA Loan Limits

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FHA Mortgagee Letter 2009-07 lays out the new FHA loan limits which were put into place by the American Recovery & Reinvestment Act of 2009.

These new loan limits apply to FHA loans that receive approval during calendar year 2009. The national floor limit for FHA insured loans will remain at $271,050. The ceiling for FHA loans in high value areas is now $729,750. These limits apply to the standard FHA 203b loan, the FHA 203k rehab loan, and the 203h loan for disaster victims.

The national reverse mortgage limit is increased from $417,000 to $625,500.

You can find out more information in HUD’s press release.

The FHA limit is determined on a county by county basis. To find out the exact FHA loan limit for individual counties, click here.

Tagged with: FHA guidelines • fha loan limits

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