FHA Mortgage Limits – A Tool For You

 I want to start off by saying that I know and agree that this topic has literally been beat to death.  It has been the topic of discussion across the Country for many months now.  The stimulus package, the conforming loan rates and limits, FHA, VA, Nehemiah and yada yada ya!   It can be so confusing, especially once you inter-twine the media and press.  What are the FHA limits?  Is it the same for me as it is for you?  What are the guidelines and what do they mean to you, me, the consumer, and anyone else who is interested?

Today I came across a site that I'm sure you are all already aware of, but did you know they had this little tool available?   When I went to their site, I was thinking, "Ok.. Here we go, another web page that will give me some conflicting report with what I already know, have heard, or have read somewhere."  I took a chance anyway and checked it out.  It's legit!  I don't normally post about this stuff as I am no expert in the Lending field, but as a borrower/consumer, I do like to be informed and kept abreast of what's going on in our industry, both as a homeowner, and an industry professional. 

The site is H.U.D.


There are a few reasons I think you will find this site to be interesting and possibly of great value to you and even your clients.  First, you can search by any state (All 50 States and includes Guam, Puerto Rico & US Virgin Islands)Second, you can search all the way down to the your Counties level.  Third, you can search by Limit Type IE: FHA, Fannie/Freddie, or HECM.  Once you complete your search, you can download the information. 

The report comes back with easy to read and understand information:
Mortgage maximums as of Wednesday March 12, 2008

MSA Name MSA Code Division County Name County
State One-Family Two-Family Three-Family Four-Family Last Revised
VALLEJO-FAIRFIELD, CA (MSA) 46700   SOLANO 095 CA $557,500 $713,700 $862,700 $1,072,150 03/05/2008

It will also break-down the following depending on your search:

The current basic standard mortgage limits for FHA insured loans are:
      One-family   Two-family   Three-family   Four-family  
  FHA Forward   $271,050.00   $347,000.00   $419,400.00   $521,250.00  
  HECM   $200,160.00      
  Fannie/Freddie   $417,000.00   $533,850.00   $645,300.00   $801,950.00  

High cost area limits are subject to a ceiling based on a percent of the Freddie Mac Loan limits
The ceilings are currently:
      One-family   Two-family   Three-family   Four-family  
  FHA Forward   $729,750.00   $934,200.00   $1,129,250.00   $1,403,400.00  
  HECM   $362,790.00      
  Fannie/Freddie   $729,750.00   $934,200.00   $1,129,250.00   $1,403,400.00  

After you view your State and County, the following files are available to be downloaded:

Warning: Sizes for Condominium and Appraiser full files exceed 10 million characters

Condominium Projects Updates Full File File Description
FHA Forward Limits    Full File File Description
FHA HECM Limits   Full File File Description
Fannie/Freddie Limits   Full File File Description
Inspector Information   Full File File Description
Inspector Licensing Information   Full File File Description
Appraiser Information   Full File File Description
Appraiser Licensing Information   Full File File Description
PUDs     File Description
Zip Codes   Full File File Description

To link directly to their site, CLICK HERE for information regarding your State and County.  Trust me, in the time it took you to read this post, you could have had ALL this information regarding your area already.  It really is that easy and user friendly to use.  HUD's site also has some other really great tools and information you should also look into as well.  I hope you'll find this to be a useful and worthy tool in your daily endeavor of "bookmarking" new sites, tools, and services that are available to you on the web.  Have a Happy and Healthy Week!!  🙂

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