FHA 2018 Loan Limits Increased

FHA 2018 Loan Limits Increased

FHA loan limits are higher for 2018

This is great news if you are a first time home buyer and want to take advantage of FHA’s lower downpayment requirements and less strict credit score guidelines when compared to a conventional loan.


HUD has updated information on the loan limits


These new loan limits have taken effect for all FHA case numbers assigned on or after Jan. 1, 2018. This means that your loan had to be submitted to a lender after January 1st.

FHA is required by the National Housing Act, as amended by the Housing and Economic Recovery Act of 2008, to set Single Family forward loan limits at 115% of median house prices, subject to a floor and a ceiling on the limits.

FHA calculates mortgage limits by Metropolitan Statistical Area and by county, so every county is different, you must check and see what the limits are for your county.

This year FHA has expanded the loan limit increase to 3,011 counties, that’s up from the previous number of 2,948 for 2017.

In high-cost areas, the FHA’s loan maximum amount will increase to $679,650, up from $636,150 last year. The floor has also increased from $275,665 to $294,515 in 2018.

This means that in states like Florida most properties will qualify for the new limit of $294,515.

Check if you are eligible

To see the limits for your county FHA Loan Limits for a complete list of FHA loan limits.

The National Mortgage Limit for FHA-insured Home Equity Conversion Mortgages, or reverse mortgages, will also increase, rising from $636,150 to $679,650.

Currently, the FHA regulations implementing the National Housing Act’s HECM limits do not allow loan limits for reverse mortgages to vary by MSA or county; instead, the single limit applies to all mortgages regardless of where the property is located.


Please enter this text

Comment Submitted!