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Posted December 14th, 2018

       2019 Nationwide Forward Mortgage Limits and Home Equity Conversion Mortgage Limits

The Federal Housing Administration (FHA) published Mortgagee Letter 2018-11, 2019 Nationwide Forward Mortgage Limits, which provides the minimum and maximum mortgage limits for FHA-insured Title II forward mortgages for Calendar Year 2019. Read today’s Press Release.

In accordance with the National Housing Act (NHA), FHA’s forward mortgage limits are set at 115 percent of the area median home price, subject to a national minimum “floor” and maximum “ceiling” limit. The NHA sets the “floor” at 65 percent and the “ceiling” at 150 percent of the conforming limit, which, for a one-unit property in 2019, is $484,350. Therefore, FHA’s nationwide forward mortgage limit “floor” and “ceiling” for a one-unit property in Calendar Year 2019 are $314,827 and $726,525, respectively.

Nearly all U.S. counties (3,053 out of 3,234 counties) will have an increase in forward loan limits in 2019. The loan limits for the remainder of the counties remained unchanged from Calendar Year 2018; there are no jurisdictions with a decrease in loan limits from last year’s levels.

Mortgagees may view the list of loan limits by county, along with the list of areas at the ceiling and between the floor and ceiling, on the Maximum Mortgage Limits web page. FHA forward mortgage limits are available by Metropolitan Statistical Area (MSA) and county, or by downloading a complete listing

The new 2019 Title II forward mortgage loan limits are effective for case numbers assigned on or after January 1, 2019, and remain effective through December 31, 2019. The new loan limits will be incorporated into a forthcoming update of the Single Family Housing Policy Handbook 4000.1 (SF Handbook).

In addition, the Federal Housing Administration (FHA) published Mortgagee Letter 2018-12, 2019 Nationwide Home Equity Conversion Mortgage (HECM) Limits, which provides the Calendar Year 2019 maximum claim amount for FHA-insured HECMs.

In accordance with the National Housing Act, the maximum claim amount for FHA-insured HECMs in Calendar Year 2019 will be $726,525 (150 percent of the Freddie Mac national conforming limit) for all areas.  These limits are also applicable for case numbers assigned on or after January 1, 2019, through December 31, 2019.