FHA Maximum Mortgage Limits

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FHA Maximum Mortgage Limits will be increasing in Minnesota on January 1, 2019.

In the Minneapolis/St Paul MSA the FHA Mortgage Limits maximum loan limit will increase almost $10,000 to $366,850.00.  In most of Greater Minnesota the maximum loan limit will be $314,827.00. See the press release from HUD.

You can view the FHA Limits at: entp.hud.gov/idapp/html/hicost1.cfm

FHA Mortgage Limits- Twin Cities

The results page will also include a Median Sale Price value for each jurisdiction. Those are the median price estimates used for loan limit determination. They are for the high-price county within each defined metropolitan area, and for the high-price year starting with 2008 and ending in the year just prior to the effective year of the loan limits. These median prices only directly determine the actual (1-unit) loan limits when the calculated limit (115% of the median price) is between the national ceiling and floor values for the loan limits. Limits for multiple-unit properties are fixed multiples of the 1-unit limits.

 

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See my previous article about conforming loan limits increasing.