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HUD Raises FHA Loan Limits to Help Consumers Become Homeowners

WASHINGTON - In an effort to make homeownership a reality for more Americans, the Department of Housing and Urban Development (HUD) announced the Federal Housing Administration (FHA) has increased its single-family home mortgage limit by more than 7%. Beginning Jan. 1, 2003, FHA is insuring single-family home mortgages up to...

By Staff Writer | Updated on January 28, 2003

WASHINGTON – In an effort to make homeownership a reality for more Americans, the Department of Housing and Urban Development (HUD) announced the Federal Housing Administration (FHA) has increased its single-family home mortgage limit by more than 7%. Beginning Jan. 1, 2003, FHA is insuring single-family home mortgages up to $154,896 in low cost areas, and up to $280,749 in high cost areas. FHA also increased the loan limits for two, three, and four-unit dwellings. The new loan limits are part of an annual adjustment HUD makes to account for rising home prices.

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