Apr 29, 2019 19-10
Advanced Notice of Upcoming Revised Program Acquisition/Purchase Price and Income Limits
Revised program Acquisition/Purchase price and Income limits:
HUD will be releasing the new income and acquisition/purchase price limits in the near future. The timing between receipt of the release from HUD and the MFA release will be a very short window. Therefore, MFA wants to give the lenders advance notice of the upcoming change to the Limits.
It is our current understanding that HUD’s revised purchase price limits will be effective with reservations dated May 19, 2019. We will keep you informed if HUD amends the effective date. FirstHome and NextHome Programs as well as the FirstDown, NextDown and HomeNow programs will be affected by the change.
Because of the timing of the release of information from HUD, MFA may need to release the revisions in stages. We recognize the inconvenience and confusion this may cause; unfortunately, this is out of our control.
Click here to view MFA’s current income and purchase price limits.
Please feel free to contact MFA’s Homeownership Department with any questions or for further clarification.
Thank you for participating in MFA’s Single family program.