Increased 203k Loan Limits for 2021
Today, the Federal Housing Administration (FHA) published Press Release., 2021 Nationwide Forward Mortgage Limits, which provides the maximum mortgage limits for FHA-insured Title II forward mortgages. These new loan limits are effective for case numbers assigned on or after January 1, 2021, through December 31, 2021. Read today’s
This year, the Federal Housing Finance Agency (FHFA) increased annual loan limits by 7.42 percent for Calendar Year (CY) 2021 based on changes to the national median home prices. Therefore, FHA’s “floor” and “ceiling” loan limits will increase from $331,760 and $765,600 in CY 2020to $356,362 and $822,3751, respectively, for a one-unit property.
Mortgagees may view the list of areas at the “ceiling” and areas with limits between the “floor” and “ceiling” — along with lists that can be sorted by state, county or MSA or by calendar year — on the Maximum Mortgage Limits web page.
This is reprinted from an email notification from HUD I receved 12-2-2020