Yesterday, December 7, 2017, the Federal Housing Administration announced that for 2018, 3,011 out of 3,141 counties in the U.S. (~96% of all counties in the nation) will see an increase in FHA loan limits.
Ceilings and Floors
In high-cost areas, the FHA’s loan limit ceiling will increase this year to $679,650, up from $636,150, providing a $43,500 increase. In addition, the floor will rise from $275,665 to $294,515, an $18,850 increase.
The National Mortgage Limit for FHA-insured Home Equity Conversion Mortgages, or reverse mortgages, will also rise with the loan limit ceiling from $636,150 to $679,650, for an $18,850 increase.
FHA case numbers assigned on Jan. 1, 2018 or later will be subject to the new loan limits.
HUD’s Press Release: https://www.hud.gov/press/press_releases_media_advisories/2017/HUDNo_17-110