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FHA Loan Limits Going Up About $17K in 2020

The limit for FHA loans in most Fla. counties will be $331,760, though it’s higher in a few areas. In about 70 U.S. counties, the loan limit goes to $765,600 or more.

WASHINGTON – The Department of Housing and Urban Development announced that the limit for Federal Housing Administration (FHA) loans in most areas of the U.S., including Florida, will rise about $17,000 to $331,760 on Jan. 1, 2020. Actual caps can vary by county, however, with 70 high-cost U.S. counties seeing an increase to $765,000, and a few go even higher.

In Florida, FHA lists six areas in which certain single-family homes have FHA limits higher than the minimum:

  • Naples-Marco Island: $450,800 limit
  • Jacksonville: $373,750
  • Miami-Fort Lauderdale-Pompano Beach: $373,750
  • Key West: $552,000
  • Port St. Lucie: $350,750
  • Crestview-Fort Walton Beach-Destin: $391,000

The announcement follows an earlier one for conventional loans that will top out at the same levels next year.

While FHA loan limits tend to focus on single-family homes, the allowable limits have also been raised for FHA loans on two-, three- and four-unit properties.

FHA’s Mortgagee Letter 19-19 announcing the increased 2020 limits is posted online.

FHA also offers a tool to help buyers determine the specific FHA and conventional loan cap for any U.S. property, which it also posted online.

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