FHA Loan Limits Announced for 2021

By
Mortgage and Lending with HomeBridge Financial Services (NJ) NMLS 248937

FHA has published the  mortgage limits for the calendar year 2021.  

Limits are based upon CASE NUMBER ASSIGNMENT date and are effective beginning with case numbers assigned on and after January 1, 2021.

    • Unlike Conventional loans: Pipeline cannot take advantage of these changes,  if the case number has been issued.
    • It is against FHA policy to cancel an existing case for the sole benefit of using the higher limits.
  • Many Counties had SIGNIFICANT increases.    As an example in high cost areas the single family “ceiling” was increased from $765,600 to $822,375!

 

Every County is different but here are the “floor/ceiling” limits:

    • Low-cost area limit
      • 1 unit:   $356,362
      • 2 unit:   $456,275
      • 3 unit:   $551,500
      • 4 unit:   $685,400
    • High-cost limit (most of NJ falls here)
      • 1 unit:   $  822,375
      • 2 unit:   $1,053,000
      • 3 unit:   $1,272,750
      • 4 unit:  $1,581,750
    • Limits for Alaska & Hawaii
      • 1 unit:  $1,233,550
      • 2 unit:  $1,579,500
      • 3 unit:  $1,909,125
      • 4 unit:  $2,372,625

 

Call me for all your residential lending needs!

 

Robert Rauf 
Mortgage Loan Originator NMLS# 248937
http://www.homebridge.com/RobertRauf 
or my blog: http://activerain.com/blogs/rrauf 
Office: (732)908-4868  Cell (732)740-0175 

RRauf@HomeBridge.com 
www.RobertRauf.com
 
 

Since 1987 I have been helping my clients fulfill their dream of home ownership! HomeBridge Financial Services, Formerly REMN, HomeBridge Financial Services is located at 9 Grand Ave, Building 2 Suite A Toms River, NJ 08753. NMLS #6521. New Jersey Licensed Lender and Mortgage Banker #L041053. Visit www.Homebridge.com for more information. NJ Mortgages, New Jersey Mortgages, Mortgages in NJ, mortgage in New Jersey, Mortgages in New Jersey, Toms River NJ 08753, Toms River NJ 08755, Brick NJ 08723, Brick NJ 08724 Mortgage in Ocean County NJ, Mortgage in Monmouth County NJ, Jackson NJ 08527, Howell NJ 07731, Lacey 08731 08734, Beachwood 08722 Bayville 08721, 

Comments (1)

Joe Jackson
Keller Williams Capital Partners Realty - Columbus, OH
Clintonville and Central Ohio Real Estate Expert

This is a great post and thanks for sharing with us!

Feb 10, 2021 08:04 AM