FHA Loan Limit Changes…Again
This update from Mortgagee Letter 2009-07 establishes the new FHA loan limits set forth by the American Recovery & Reinvestment Act of 2009.
Here are the 5 things you need to know about these changes:
1. New loan limits are for FHA loans that receive approval in calendar year 2009.
2. Changes apply to the 203b (basic loan), 203h (disaster victims), & 203k (rehab loan).
3. National FHA floor limit remains at 271,050.
4. FHA ceiling for high value areas is 729,750.
5. National reverse mortgage limit increases from 417,000 to 625,500.
Find the FHA loan limit in your area.
Information provided by LoanToolBox
Posted by cv1214 
