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President Obama Restores Federal Housing Administration (FHA) Loan Limits

 

The U.S. House and Senate has restored FHA loan limits to the level they were before they were allowed to expire at the end of September. (This has not been the case with loans acquired by FNMA or FHLMC). As a result, the FHA limits will now rise from 115 percent to 125 percent of the area median home price to a maximum of $729,750 from $625,500. President Obama signed the legislation into law on November 18, and the new increased limits took effect immediately. The restored loan limits were contained within a broad-based bill which included funding for a variety of federal operations and programs. 

 

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