Realtor Magazine reported on Monday that the Federal Housing Administration will be increasing its loan limits in most areas of the country in 2018.
In high-cost areas of the country, the FHA’s ceiling on loan limits will rise from $636,150 to $679,650, according to the Department of Housing and Urban Development.
The FHA loan limits will rise in 3,011 counties but will remain unchanged in 223. Fannie Mae and Freddie Mac’s new conforming loan limits for 2018 will be $453,100 for conforming loans and $679,650 for jumbo loans in some high-cost areas. The new limits for the FHA and the FHFA will take effect on Jan. 1.