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FHA Hikes Loan Limits

As was the case recently for conventional conforming loan amounts, loan limits on forward and reverse mortgages insured by the Federal Housing Administration have been boosted for next year. FHA floor loan limits are determined based on 65 percent of conforming limits on residential loans that are acquired by Fannie Mae and Freddie Mac. Late last month, the regulator and conservator of Fannie and Freddie, the Federal Housing Finance Agency, reported that the 2018 conforming limit has been set at $453,100. On Thursday, the Department of Housing and Urban Development issued a letter indicat...

December 21st, 2017 FHA Hikes Loan Limits

New Conforming Loan Limits

The Federal Housing Finance Agency (FHFA) announced the maximum conforming loan limits for home loans to be acquired by Fannie Mae and Freddie Mac in 2018. In most of the U.S., the 2018 maximum conforming loan limit for one-unit properties will be $453,100, an increase from $424,100 in 2017. The Housing and Economic Recovery Act (HERA) requires that the baseline conforming loan limit be adjusted each year for Fannie Mae and Freddie Mac to reflect the change in the average U.S. home price. According to FHFA's seasonally adjusted, expanded-data HPI, housing prices increased 6.8 percent,...

December 6th, 2017 New Conforming Loan Limits