HUD: FHA INFO #19-59: 2020 Nationwide Home Equity Conversion Mortgage Limits
December 3, 2019
In this Announcement:
• 2020 Nationwide Forward Mortgage Limits
• 2020 Nationwide Home Equity Conversion Mortgage Limits
Today, the Federal Housing Administration (FHA) published Mortgagee Letter 2019-19, 2020 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, 2020, through December 31, 2020.
This year, the change in the national median home price increased the Federal Housing Finance Agency (FHFA) loan limits. Therefore, FHA’s “floor” and “ceiling” loan limits will increase for Calendar Year (CY) 2020, to $331,760 and $765,6001, respectively, for a one-unit property.
for full announcement, please click the source link above.