The Federal Housing Administration has announced ,Most of the country will see an increase to loan limits in the new year. The loan limit for lower-cost areas will be set at $314,827—or 65 percent of the national conforming loan limit of $484,350.

In high-cost areas, the new FHA limit for 2019 will increase to $726,525, up from $679,650. The new loan limits will take effect Jan. 1.

The FHA sets single-family forward loan limits at 115 percent of median home prices, which is subject to a ceiling on limits. For the past few years, the FHA has been increasing loan limits in a greater number of counties.

In 2016, the FHA raised loan limits for 188 counties. In 2019, 3,053 counties will see an uptick in FHA loan limits. View the FHA’s letter on 2019 forward mortgage limits.

These new loan limits will be effective for FHA loans assigned on or after January 1, 2019. Click here to read the FHA’s letter on 2019 forward mortgage limits.

We are Ready to Help! When you’re working with real estate professionals like Carriene Porter of Precision Realty & Associates, you’re guaranteed to get the expertise and advice you need. 

Not quite ready to buy a home?  You may qualify for the Lease with a Right to Purchase program.  Call me and I'll give you the details on how you may qualify to get into the home you want, get settled and then purchase it when you are ready! If you prefer a more personal touch, CALL 801-809-9866 today.  

 

 

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