WASHINGTON — The Federal Housing Administration is raising the limits on loans it backs in 187 counties starting Jan. 1, the mortgage insurance agency said Friday.

Counties in the metropolitan areas of Denver, Jacksonville, Fla., Indianapolis, Louisville, Portland, Maine, Baltimore, Boston, Bismarck, N.D., Nashville, San Diego and Seattle will have higher FHA loan limits in 2015. Several metro areas in Texas will also benefit from higher FHA loans limits.

Meanwhile, the FHA also said no county in the nation will experience a decrease from 2014 levels when the new 2015 loan limits go into effect.

The FHA loan limit in each county is determined by a number of factors. However, each county's limit cannot exceed a maximum of $625,500 or fall below a minimum of $271,050. In its press release Friday, the agency stressed that those maximum and minimum limits will remain "unchanged" next year.

By comparison, the Federal Housing Finance Agency recently announced higher limits for loans — backed by Fannie Mae and Freddie Mac — in only 46 counties.

 

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