The FHA noted that this amount is 150% of the national conforming limit of $424,100. FHA will also increase its “floor” to $275,665 from $271,050.Īdditionally, the maximum claim amount for FHA-insured Home Equity Conversion Mortgages (HECMs), or reverse mortgages, will increase to $636,150. In high-cost areas, the FHA national loan limit “ceiling” will increase to $636,150 from $625,500.
The limits are based on a percentage calculation of the nation conforming loan limit. The FHA recalculates its national loan limit on a yearly basis. 1, 2017, and will remain in effect through the end of the year.
These loan limits are effective for case numbers assigned on or after Jan. The Federal Housing Administration announced plans on Thursday to increase loan limits in 2017, announcing a significant jump in counties set to increase compared to last year.ĭue to home price increases, the FHA said that most areas in the country will see a slight increase in loan limits in 2017.
