NCRC Opposes Higher Limits on FHA Loans

Washington, DC — In a letter sent to Chairman Hal Rogers and three other members of the House Appropriations committee, the National Community Reinvestment Coalition opposed extending higher loan limits on FHA loans. The House of Representatives is currently considering raising the loan limits from $625,500 back to $729,750.

A recent Congressional Budget Office report has shown that the higher loan limits would benefit the top 5 percent of US households. Why is Congress moving the FHA program to serve borrowers at a higher income level, especially now when we know that the share of income going to high-income earners has grown and the share of income to low- and moderate-income families has actually declined…Let the market serve those with greater means; say no to higher loan limits,” wrote NCRC President & CEO John Taylor in the letter.

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