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On Dec. 7, 2017, the Federal Housing Administration (FHA) released its 2018 Loan Limits, effective January 1, 2018. FHA's loan limits are tied to the loan limits set by the Federal Housing Finance Agency for conventional mortgages. In high-cost areas the FHA national loan limit "ceiling" will increase to $679,650 from $636,150. FHA will also increase its "floor" to $294,515 from $275,665. Alaska, Hawaii, Guam, and the Virgin Islands have a special exception ceiling of $1,019,475 to account for higher costs of construction. Loan limits increased in 3,011 counties and remain unchanged in 223 counties. Loan limit increases for 2018 are due to a rise in housing prices across the country.
Any community that wishes to contest its loan limit must submit an appeal to FHA's Santa Ana Homeownership Center no later than 30 days from the official FHA notice.
Additionally, the maximum claim amount for FHA-insured Home Equity Conversion Mortgages (HECMs) will increase to $679,650 from $636,150.