FHA Loan Limits

Insured by the U.S. Department of Housing and Urban Development (HUD), a federal housing authority (FHA) loan is a mortgage product that is designed to provide financing for homes at a low interest rates. On March 6, 2008, the FHA raised the loan limits for government-insured home loans. HUD announced 14 counties in California would benefit from this economic stimulus package.SFGate: California gets first crack at new FHA mortgage limits (March 6, 2008) The FHA expects that more counties across the nation will be able to participate in 2008.
Fast Facts:
1. In March 2008, the mortgage limit increase included 14 high-cost counties in California
2. The FHA will insure home loans up to a maximum dollar value of $729,750 SFGate: California gets first crack at new FHA mortgage limits (March 6, 2008)
3. Previous FHA insurance maximum was $362,790Reuters: FHA plugs higher loan cap for troubled borrowers(June 19, 2008)
4. 675,000 families are estimated to potentially qualify for the FHA insuranceReuters: FHA plugs higher loan cap for troubled borrowers(June 19, 2008)
5. FHA has received nearly triple the amount on applications in 2008 as compared to 2007Reuters: FHA plugs higher loan cap for troubled borrowers(June 19, 2008)
6. Initial reports by HUD stated that FHA-backed loans would be made available to 250,000 homeowners nationwideSFGate: California gets first crack at new FHA mortgage limits (March 6, 2008)
7. FHA home insurance applications in 2008: 1.17 millionReuters: FHA plugs higher loan cap for troubled borrowers(June 19, 2008)

FHA Loan Limits News
- Higher loan limits extended
  
  ... action in passing a congressional resolution recently that would extend the current higher Fannie Mae, Freddie Mac, and FHA loan limits through 2010. ... (November 25, 2009)
  NorthJersey.com
- Federal Housing Subsidies Are Insane
  
  HUD's inspector general says the higher loan limits add additional risk to the FHA's already dicey situation. But the FHA's commissioner, David H. Stevens, ... (November 25, 2009)
  Cato @ Liberty
- With FHA Help, Easy Loans in Expensive Areas
  
  For decades, most FHA loans were in low-cost states like Texas and Michigan. Under the agency's loan limits, houses along the coasts were usually too ... (November 19, 2009)
  New York Times
- Fannie Confirms 2010 Loan Limits
  
  By MortgageOrb.com on Monday 16 November 2009 Fannie Mae has confirmed its 2010 conforming loan limits, as determined by the Federal Housing Finance Agency ... (November 16, 2009)
  Mortgageorb
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