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.

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/

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.



FHA Loan Limits Released

2010 high-cost FHA limit $729,750

Nov. 30, 2009

By MortgageDaily.com staff


Next year's loan limits on forward and reverse mortgages insured by the Federal Housing Administration have been released.

The loan limits are authorized under the recently passed Continuing Resolution, 2010 as part of the Department of Interior, Environmental, and Related Agencies Appropriations Act, Public Law 111-88, according to Mortgagee Letter 2009-50. The continuing resolution requires that FHA loan limits are set at the higher of the limits established under the Economic Stimulus Act of 2008 or the Housing and Economic Recovery Act of 2008.

The new limits apply to loans approved between Jan. 1, 2010, and Dec. 31, 2010.

In low-cost areas, the FHA national loan-limit floor will be set at 65 percent of the conforming limit -- which has been established at $417,000 for next year. That works out to $271,050 on a one-unit residence, while the two-unit limit is $347,000. The limit on three-unit properties in low-cost areas is $419,400, and the four-unit limit is $521,250.

In high-cost areas, the FHA loan limit for next year is $729,750. The two-unit limit is $934,200, the three-unit limit is $1,129,250 and the four-unit limit is $1,403,400.

In areas that are eligible for loan limits between the national FHA floor and the ceiling, the limit will be the higher of the 2008 limit authorized under the Economic Stimulus Act or the 2010 limit under the Housing and Economic Recovery Act.

In Alaska, Guam, Hawaii and the Virgin Islands, the National Housing Act authorizes loan limits to be adjusted up 150 percent. The resulting limit is $1,094,625 for a loan secured by a one-unit property, while the two-unit limit is $1,401,300, the three-unit limit is $1,693,875 and the four-unit limit is $2,105,100.

On home-equity conversion mortgages, the FHA limit will remain at $625,500 -- or 150 percent of the conforming limit. The limit is $625,500 even in Alaska, Guam, Hawaii and the Virgin Islands.

FHA loan limits are available online at https://entp.hud.gov/idapp/html/hicostlook.cfm.

next story

back to current headlines


Political Mortgage News | Mortgage Laws
Mortgage people in politics. Political contributions by mortgage companies. Coverage of political support by lenders and executives. GSE lobbying and issues.



Logout forgot
password?

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