FHA Drastically Lowers Loan Limits In 2014 Share
December 13, 2013
On December 6, 2013 the FHA announced that they will drastically lower loan limits beginning January 1, 2014. This change will affect all new loans, excluding reverse mortgages.
In San Diego, the loan limit will drop from $697,500 to $546,250, a difference of $151,250 (-21.7%). The National Association of REALTORS® and the California Association of REALTORS® are working to fight this severe loan reduction.