home subscribe advertise reprints e-mail help RSS about us LOG IN

Mortgage News

 

Mortgage News

HOT Topics

production

servicing

compliance

legal

fraud

secondary

jobs

appraisal

site map

www.loan-academy.com/
twitter linkedin
facebook google+
Search:

Mortgage News

News by Subject
Complete list of specialty news sections.

Purchase Subscription
Subscribe to MortgageDaily.com and get immediate access to all news, statistics and archives.

Mortgage Advertising
Reach mortgage executives, loan originators and other people tied to mortgage industry.

Consumer Mortgage News
Free mortgage news for prospective borrowers.

Mortgage Newsletter
Free e-mail newsletter with the latest headlines from MortgageDaily.com.

Mortgage News Reprints
Put entire MortgageDaily.com stories in your online or printed newsletter or publication.

Mortgage Feedget RSS code
Condensed MortgageDaily.com stories free on your Web site or for your RSS reader.

News Archives
Archive of MortgageDaily.com stories by month going back to 1999.

Press Releases
Reports and announcements from MortgageDaily.com.

Mortgage Statistics
Data and statistics for real estate finance.

Mortgage Directories
Directories of lenders, branch operators and mortgage service providers.

Mortgage Graphs
Directories of lenders, branch operators and mortgage service providers.

FHA News | Government Resources | M o r t g a g e e Letters | FHA Statistics
FHA, VA and HECM mortgage news. HUD and G i n n i e news also. Originations, servicing and FHA approval.



2009 FHA Limit Set

$625,500 limit in high-cost areas

November 10, 2008

By MortgageDaily.com staff


Emergency economic legislation temporarily increased the limit on loans insured by the Federal Housing Administration. But that increase is set to expire this this year. However, other legislation made permanent increases to maximum FHA loans.

H.R. 5140, the Economic Stimulus Act of 2008, was signed by President Bush on Feb. 13. Among other provisions, it temporarily raised -- until Dec. 31, 2008 -- the FHA limit in high-cost areas to $729,750. Prior to the legislation, the FHA limit was $362,790.

H.R. 3221, the Housing and the Economic Recovery Act of 2008, was signed by Bush on July 30. Among its provisions are a permanent increase to FHA-insured loan amounts -- which the U.S. Department of Housing and Urban Development said today would be $625,500 in high-cost areas. In low-cost areas, the limit is $271,050.

Loan limits for specific areas are set at 115 percent of the median house price.

In high-cost areas, the FHA limit on a duplex is $800,775, while loans on triplexes can go as high as $967,950 and four-unit properties can be financed for up to $1,202,925, according to Mortgagee Letter 2008-36 distributed Friday. In low-cost areas, the maximum FHA loan on a four-unit property is $521,250.

In for Alaska, Guam, Hawaii and the Virgin Islands, the FHA limit is set at $938,250 for a single-family residence.

Last month, the Federal Housing Finance Agency confirmed the 2009 conforming loan limit in high-cost areas at $625,500.

This month, HUD issued Mortgagee Letter 2008-35 indicating that a national limit had been established on reverse mortgages at $417,000.


Related:

Higher Reverse Mortgage Limit in Place
Higher loan limits on home-equity conversion mortgages are now in place.

Conforming Loan Limits
Fannie Mae, Freddie Mac and their regulator have issued updates on loan limits and fees.

Reverse Mortgage News
Home equity conversion mortgages, HECM lenders and HECM reports. Reverse mortgage lending issues, analysis and compliance.

www.mortgagebranchmanagerjobs.com

SUBSCRIBERS: Edit Subscription | Subscription Help | or call 214.521.1300

Subscribe Contact Us Site Map

Copyright © 2017 Mortgage Daily, D a l l a s
Subsribers Only:

AMC directory

ARM indexes

mortgage company directory

mortgage regulations

net branch directory

p r i c i n g engine directory

wholesale lender directory

More Mortgage News Resources (full site map):

advertising news

appraisal news

bank news

biggest lenders

commercial mortgage news

corporate mortgage news

credit news

FHA news

financial regulation news

foreclosure news

GSE news

jumbo mortgage news

interest rates

loan modification news

loan originator survey

LOS Newsletter

MBS

mortgage associations

mortgage-backed securities

mortgage books

mortgage brokers

mortgage compliance

mortgage conferences

mortgage directories

mortgage education

mortgage employment

mortgage employment index

mortgage executives

mortgage fraud

mortgage fraud blog

mortgage fraud local news

Mortgage Fraud Index

Mortgage Graveyard

mortgage insurance news

mortgage lawsuits

mortgage leads

mortgage lender ranking

mortgage licenses

mortgage litigation

Mortgage Litigation Index

Mortgage Market Index

mortgage mergers

mortgage news

mortgage politics

mortgage press releases

mortgage production

mortgage public relations

mortgage rates

mortgage servicing

mortgage statistics

mortgage technology

mortgage video

mortgage Webinars

net branch

net branch directory

nonprime news

origination news

originator tools

real estate news

refinance news

reverse mortgage news

secondary marketing

social media

servicing news

subprime news

wholesale lenders