Frequently Asked Questions - Mortgage Limit Increases

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Q: What are the procedures for requesting increases in the FHA Single Family Mortgage Limits in my area?

A: Please see Mortgagee Letter 2007-01 "2007 FHA Maximum Mortgage Limits" dated 1/3/07 as guidance to what information must be provided.

Q: Who can request a mortgage limit increase?

A: Any interested party may submit a request to FHA for mortgage limits to be increased in a particular area.

Q: What sources of sales data are acceptable for submission?

A: Data provided by a local taxing authority, title company, or real estate data company & etc. are acceptable.

Q: How much data, covering what period of time, should be submitted?

A: The amount of data and period will vary depending on the volume of sales in that particular area. Refer to Mortgagee Letter 2007-01 for additional guidance. More sales are better than less.

Q: Is there a particular order or format in which the listing of sales must be prepared for submission?

A: Yes, sales must be listed from the lowest sales price to the highest sales price. An electronic format such as MS-Excel is acceptable. For fastest service, please use an electronic format.

Q: What is the smallest geographical unit FHA will consider for mortgage limit review?

A: The smallest geographical unit FHA will consider for a review of closed sales data is a county.

Q: Can the data reflect the listed price as oppose to the sales price?

A: No, the data must reflect the "closed" sales price.

Q: Where do I submit documentation to request a mortgage limit increase?

A: Please send all relevant documents to your local FHA Homeownership center.

Q. Does HUD review FHA Mortgage Limits independently of requests?

A: HUD reviews FHA mortgage limits annually. See FHA Mortgagee Letter 2007-01.

Q: How can I be informed automatically of FHA mortgage limit changes as they occur?

A: You can subscribe to the Single Family Housing Industry Email list.

Q: Where can I view the current FHA Mortgage Limits?

A: You can view FHA mortgage limits On-line.