Federal Issues
FHA Raises Multifamily Large Loan Threshold
July 13, 2023
On Wednesday, June 28, 2023, the Federal Housing Administration (FHA) announced its intent to increase the threshold dollar amount for “Large Multifamily Loans” from $75 million to $120 million. The announcement included a statement by HUD that they would review the threshold on an annual basis with the possibility of increasing the limit by $5 million if warranted. This increase will allow traditional underwriting processes to be used when the loan is submitted for FHA insurance.
This change is one that NAR and multifamily housing advocates specifically requested just last year. Increasing the threshold by $45 million creates greater flexibility for lenders in this space and will facilitate the creation of more rental housing while also mitigating increased development costs. It also better reflects the risk profile of the borrowers.
About the GRBOR Market Brief
The Greater Rome Board of REALTORS® (GRBOR) Market Brief is compiled by Georgia Multiple Listing Service (GAMLS).For more information on details of this month's report, please contact the Board at 404.845.4025.
*Each month, the numbers reported for the previous month are updated to reflect additional recordings.
About the Greater Rome Board of REALTORS®
The Greater Rome Board of REALTORS® (GRBOR) has been an instrumental factor in the growth of real estate in Floyd County, Georgia for more than a decade. GRBOR serves as a central source of information for its members, with mainly focusing on real estate education, the promotion of professionalism in the industry and representing REALTORS® members with legislative initiatives to create positive change for the real estate community.
About Georgia Multiple Listing Service
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