FHA Loan Limits to Remain Untouched into 2015

money

The Federal Housing Authority (FHA) announced on Friday that federal limits on conforming loans will remain mostly unchanged from 2014 to 2015.

In high-cost areas like San Francisco and New York, the loan limits – or the maximum amount the federal government will buy and guarantee from private lenders – will remain at $625,000, while that number will stay at $417,000 in other parts of the country.

According to MarketWatch reporter Daniel Goldstein, “the limits are calculated based on a certain percentage of the median home price in a particular area.”

Image via flickr/401(k) 2012

Continue to original source.