Mortgagee Letter 2009-50 provides notice of the 2010 comprehensive update to the Federal Housing Administration's (FHA) single-family loan limits, under the authority of the recent passage of the Continuing Resolution, 2010 (CR) as part of the Department of Interior, Environmental, and Related Agencies Appropriations Act, Public Law 111-88. The loan limits described in the Mortgagee Letter are effective for loans with credit approval issued by the mortgagee on or after January 1, 2010 through December 31, 2010. These limits apply to mortgages insured under the following Sections of the National Housing Act: Sections 203(b) (FHA's basic 1-4 family mortgage insurance program, including condominiums), 203(h) (mortgages for disaster victims), and 203(k) (rehabilitation mortgage insurance).
The list of areas where the FHA loan limits are at the ceiling is provided in Attachment I. The list of high-cost areas where the FHA mortgage limits are between the ceiling and the floor is provided in Attachment II.
