HUD Announces 2007 Maximum Mortgage Limits
|January 5, 2007|
Mortgagee Letter 07-01 -- 2007 Mortgage Limits|
Summary: 2007 FHA Maximum Mortgage Limits (Mortgagee Letter 07-01)
This mortgagee letter provides the 2007 comprehensive update to the Federal Housing Administration's (FHA) single-family mortgage limits. The mortgage limits described in this mortgagee letter are effective for those loans endorsed for insurance on or after January 1, 2007, and apply to mortgages insured under the following sections of the National Housing Act (NHA): Sections 203(b)(FHA's basic one to four family mortgage insurance program), 203(h)(mortgages for disaster victims), 203(k)(rehabilitation mortgage insurance), 223(e)(properties in declining areas), and 234(c)(condominium units). For Section 255 (Home Equity Conversion Mortgages), the new loan limits will be effective for all loans closed after January 1, 2007.