FHA announced the forward mortgage loan limits for 2020. The 2020 “floor” and “ceiling” loan limits for a one-unit property are increased to $331,760 and $765,600, respectively (previously set at $314,827 and $726,525). The 2020 “ceiling” for the special exception areas of Alaska, Hawaii, Guam and the Virgin Islands increased to $1,148,400 (an increase from $1,089,787). The forward mortgage loan limits apply to loans with case numbers assigned on or after January 1, 2020.
FHA
FHA Adopts Uniform Residential Loan Application for Title I Loan Programs
FHA issued Title I Letter (TIL) TIL-489, adopting the Uniform Residential Loan Application (URLA) for the Title I loan programs. Per the TIL, FHA replaced