FHA Home Loan Limits Expected to Decline in 669 Counties on October 1 If Exception to HERA Limits Expires

摘要

FHA home mortgage limits are expected to decline in 669 of 3,334 counties or county equivalents on October 1 if the temporary exception to the limits established under the Housing and Economic Recovery Act of 2008 (HERA) is allowed to expire, according to a HUD market analysis. The Economic Stimulus Act (ESA) enacted in February 2008 temporarily set the FHA limits at 125 percent of the median area house price, with a high-cost area cap of 175 percent of the government-sponsored enterprise (GSE) conforming loan limit. With the GSE limit at $417,000, the high-cost FHA limit was $729,750.