LOWER FHA LOAN LIMIT IN 2014
The Federal Housing Administration is reducing the maximum size of the mortgages it will back in 2014. The FHA is not the lender but rather insures mortgage loans. FHA issues guidelines to banks outlining the requirements for a federally insured loan.
Effective Jan 1, 2014, the maximum amount for a FHA loan in Brevard County, Florida dropped to $271,000.