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FHA loan limit increases to $498,257 in 2024

Housing Wire

The Federal Housing Administration (FHA) is increasing the “floor” and “ceiling” FHA loan limits in 2024 to $498,257 and $1,149,825, respectively, the FHA announced Tuesday. The new FHA loan limits apply to forward mortgages for a one-unit property and take effect on Jan.

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FHA loan limit increases to $524,225 in 2025

Housing Wire

The Federal Housing Administration (FHA) is increasing the “floor” and “ceiling” FHA loan limits in 2025 to $524,225 and $1,209,750, respectively, the agency announced Tuesday. The new FHA loan limits apply to forward mortgages for a one-unit property and take effect on Jan. There are some exceptions.

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Mortgage applications for new construction climbed in August

Housing Wire

Demand for newly constructed homes continues to remain high as existing for-sale inventory remains historically low. By product type, conventional loans made up 65.8% of loan applications. Meanwhile, FHA loans comprised 23.8% of total loan applications while VA loans were 10.2%.

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Mortgage applications for new construction homes ticked up in July

Housing Wire

With strong demand and limited options for existing homes, many homebuyers are turning to new construction. Mortgage applications for new construction home purchases increased 35.5% Conventional loans made up for the majority of loan applications By product type, conventional loans made up 65.3%

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FHA raises loan limit by nearly $25,000 for 2021

Housing Wire

Virgin Islands have a higher limit ceiling than the rest of the country to account for the higher costs of construction. In those areas, the 2020 FHA loan limit is $1,233,550. Unlike 2020’s report, the FHA said there are no counties where the loan limits will be decreasing. 1, 2021, through Dec.

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Eyeing expansion, Go Mortgage snags 160+ former FoA employees

Housing Wire

In addition to offering borrowers FHA loans, conventional purchase mortgages and refis, the lender specializes in retail channel construction loans, according to the firm. “We We have a one-time close construction-to-permanent loan, and we are the largest seller of that product to the agencies.

Mortgages 508
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Opinion: Agencies are key to fixing housing affordability

Housing Wire

This is significant, because as noted in CHLA’s Annual IMB Report , “84% of FHA loans were for first-time homebuyers, and FHA’s share of Black and Hispanic borrowers was twice the percentage of all other mortgage loans.” But now a new threat is emerging on this front.

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