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Thursday, December 10, 2015

New FHA Limits

The Federal Housing Administration released its 2016 schedule of loan limits. Maximum loan limits will rise in 188 counties with no decreases. There is no change to the national loan limit ceiling of $625,500 for high-cost areas or the $271,050 floor for low-cost areas. The FHA recalculates its loan limits annually based on 115 percent of the median house price in each area. The new loan limits take effect Jan. 1

---ICBA

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