Loan Limit Increase for 2017!

Written by Michael A. Foote, CMB on . Posted in FHA lending, fha mortgage, FHA purchase loan, hud, mortgage banker, mortgage broker, mortgage finance, Mortgage Processing, mortgage regulations

mbaaIn high-cost areas, the FHA national loan limit “ceiling” will increase to $636,150 from $625,500. FHA will also increase its “floor” to $275,665 from $271,050. Additionally, the maximum claim amount for FHA-insured Home Equity Conversion Mortgages (HECMs), or reverse mortgages, will increase to $636,150. This amount is 150 percent of the national conforming limit of $424,100.