Although the loan limits on high-balance conforming mortgage loans may be decreasing significantly in coming months, FHA mortgages should not be affected by those changes.
Historically, FHA has simply mirrored the conventional conforming limits for their own limits. However, in August 2009, Congress passed HR 3288, which maintains for 2010 the $417k limit on “normal” FHA loans and the $729,500 limit on “high-balance” FHA loans in high-cost areas, and the Senate is expected to pass a version that similarly maintains those limits for 2010.
If those limits do look likely to change for 2010, though, we will definitely let you know.
Possibly related posts (automatically generated):
- Upcoming Changes To Conforming Loan Limits
- Historical Conforming Loan Limits
- Official FHA loan limits issued for 2010
- Freddie Mac announces 2007 conforming loan limits
- Loans For Investors With Multiple Financed Properties
- Flood Insurance Unavailable Due To Congressional Error
- USDA GRH mortgages
- 2009 FHA loan guideline update
- Congress extends closing period for homebuyer tax credit
- FHA changes mortgage insurance premiums
tartaki
on Apr 5th, 2010
@ 5:57 am:
You got a really useful blog I have been here reading for about half an hour. I am a newbie and your post is valuable for me.