HUD Decreases FHA Loan Maximum Limits

If you are looking to get and FHA-insured loan for a higher-priced purchase in 2014, you may be out of luck.  HUD has announced new maximum limits for the 2014 calendar year.  The maximum FHA-insured mortgage loan in 2014 will be $625,500.  That’s nearly a 15% decrease from the amount currently allowed, $729,750.  650 counties throughout the country will be affected.  Standard streamline refinances that meet all of the other requirements will not be affected by this decrease.