FHA lowers the loan amounts in 650 counties across the nation in a move that could hurt many first time home buyers in higher costs areas. Some examples of this move by the agency are cuts on the order of approximately 10-12% of the loan amounts in 2013. For instance, in Chicago the limit in 2013 for FHA mortgages were $410,000. Under the new agency rules, the maximum FHA loan in 2014 is $365,700. 

     In Denver, the loan amount was $406,250 and the new maximum FHA loan in 2014 is $391,000. FHA is an agency under HUD and they set the limits according to many factors and housing types in a particular locale that makes FHA Mortgages available so that Americans always have funds available to purchase homes for middle to low income folks.   

Alabama FHA Mortgage Limits 2014

Alaska FHA Mortgage Limits 2014

Arizona FHA Mortgage Limits 2014