What are the new FHA loan limits?
The new FHA limits mimic the new conforming loan limits for each Metropolitan Statistical Area (MSA.) The office of Housing and Urban Development (HUD) released the new limits of each MSA based upon the median average home price in that area. These are determined by county. MSAs which did not have a median home value of more than $417K did not increase. However, other areas where the MSA is higher than $417K saw proportional increases. Some areas increased marginally, but some increased substantially. The maximum FHA loan limit anywhere in the U.S is currently $729,500.
