FHA-2017 Mortgage Limits

The Federal Housing Administration (FHA) published Mortgagee Letter 2016-202017 Nationwide Forward Mortgage Limits, which provides the maximum mortgage limits for FHA-insured Title II forward mortgages.

Because of the change to the national median home price this year that increased the Federal Housing Finance Agency (FHFA) limits, FHA’s “floor” and “ceiling” loan limits will increase for calendar year 2017 to $275,665 and $636,1501, respectively, for a one-unit property as referenced in Section II.A.2.a.ii of the Single Family Housing Policy Handbook 4000.1.

 As a result of the increase to FHA’s “floor” and “ceiling” loan limits, nearly all U.S. counties will have an increase in forward loan limits in 2017. There are no jurisdictions with a decrease in loan limits from the 2016 levels. To enable mortgagees to identify the areas with loan limit increases, FHA has published a separate list of counties with loan limit increases. Mortgagees may view this list along with a list of areas at the ceiling and a list of areas between the floor and ceiling on the Maximum Mortgage Limits web page. FHA forward mortgage limits are available by MSA and county, or by downloading a complete listing.

The new loan limits are effective for case numbers assigned on or after January 1, 2017, and remain effective through December 31, 2017.