NEW 2019 FHA LOAN LIMITS ANNOUNCED

By
Mortgage and Lending with Franklin Advantage Inc. NMLS Lic. # 343946

FHA

As announced today in Mortgagee Letter 2018-11 the low-cost and high-cost county limits have increased effective with case numbers assigned on or after January 1, 2019. Loan limits are county specific.  The low-cost areas mortgage limits have increased to:

  • One-unit: $314,827
  • Two-unit: $403,125
  • Three-unit: $487,250
  • Four-unit: $605,525

High-cost areas are also county specific and the highest limits, excluding Hawaii and Alaska, are:

  • One-unit: $726,525
  • Two-unit: $930,300
  • Three-unit: $1,124,475
  • Four-unit: $1,397,400

Some counties may have limits that fall between the low-cost and high-cost areas.  Hawaii and Alaska have higher high-cost limits.  At this time HUD has not issued an announcement if they will allow existing cases to be cancelled and appraisals to be reused due to the new loan limits.  So at this time, unless guidance is provided by HUD, it is not allowed. Minimum loan amounts for high balance products will be determined by case assignment date as well.  For cases assigned on or after January 1, 2019,  the minimum loan amount for high balance products for a one unit property will be $484,351 and for cases assigned prior to January 1, 2019 will continue to be $453,100 (2-4 units will have increased minimum loan amount requirements as well).

 

CHECK OUT NEW LIMITS HERE ( BE SURE TO PUT STATE, AND CY 2019 TO RETRIEVE THE CURRENT LIMIT FOR YOUR COUNTY )

NEW FHA LIMITS

Posted by

 

Wayne L. Brown, NMLS # 343946
Licensed Mortgage Specialist
Franklin Advantage, Inc.
Direct: 858-997-6300
Email: Wayne@SanDiegoMtgPro.com
Website: 
www.SanDiegoMtgPro.com

Online Application:

https://www.blink.mortgage/app/signup/p/franklinadvantageincc/waynebrown

 

 

L/O CA DRE LIC. # 00906571

Corp. NMLS # 285786

CORP CA DRE LIC. # 01837286

 

Equal Housing Lender

 

About Wayne Brown

 

Wayne is a Licensed Mortgage Banker, and is based in San Diego.  With over 35 years in commercial and mortgage banking, he serves all of California and has closed more than 5,600 loans in his career.

 

He specializes in Conventional, FHA, VA, and Reverse Mortgages for residential lending purposes.  Both he and his company always strive to exceed each client's expectations through knowledgeable, ethical, and transparent representation to service their financial needs. 

 

Contact Wayne for a Free and Confidential mortgage analysis and pre-approval without obligation, or to simply get answers to your mortgage questions.  Wayne can be reached directly at 858-997-6300.

Equal Housing Lender                     

Comments (2)

John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Wayne L. Brown very valuable report for new FHA loan limits.

Dec 14, 2018 04:12 PM
Wayne L. Brown
Franklin Advantage Inc. - Alpine, CA

Thanks John Pusa .  Hope it benefits you this next year.

Have an enjoyable Christmas season.

Dec 15, 2018 02:09 PM