“FHA to Drop Upper Mortgage Limits Jan. 1”

Beginning on Jan. 1, all FHA loans will be capped in high-cost areas at $625,500, reduced from the current cap of $729,750. FHA will keep its current loan limits in place in areas where housing costs are lower than $271,050. The new loan limit for the highest cost areas will affect about 650 counties, according to the Department of Housing and Urban Development.

Story via realtormag.realtor.org – click here to read entire article

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