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Title 12, Banks and BankingRelease 119-110

§1712a Indexing of Fha Multifamily Housing Loan Limits

Title 12 › CHAPTER 13 — NATIONAL HOUSING › SUBCHAPTER II — MORTGAGE INSURANCE › § 1712a

Last updated Sep 23, 2026|Official source

Summary

Starting July 1, 2025, the loan-limit dollar amounts for certain FHA multifamily programs must be updated every year. The Secretary must use the percent change in the Price Deflator Index of Multifamily Residential Units Under Construction published by the Census Bureau, comparing March of the previous year to March of the year of the update. If that index is not published or available, the Secretary can use a different measure but must announce that choice in the Federal Register and allow public comment. The Secretary must publish each new dollar amount in the Federal Register. Each dollar figure must be rounded down to the next whole dollar.

Full Legal Text

Title 12, §1712a

Banks and Banking, Source: USLM XML via OLRC

(a)Method of indexing
The dollar amounts set forth in
(1)
(2)section 1715e(b)(2)(A) of this title;
(3)section 1715k(d)(3)(B)(iii)(I) of this title;
(4)section 1715l(d)(3)(ii)(I) of this title;
(5)section 1715l(d)(4)(ii)(I) of this title;
(6)section 1715v(c)(2)(A) of this title; and
(7)section 1715y(e)(3)(A) of this title; (collectively hereinafter referred to as the “Dollar Amounts”) shall be adjusted annually, commencing on July 1, 2025. The adjustment of the Dollar Amounts shall be calculated by the Secretary using the percentage change in the Price Deflator Index of Multifamily Residential Units Under Construction released by the Bureau of the Census from March of the previous year to March of the year in which the adjustment is made, or by the Secretary using an alternative indicator after publishing information about such alternative indicator in the Federal Register for public comment if the Price Deflator Index of Multifamily Residential Units Under Construction is not available or published.
(b)Publication
(1)In general
The Secretary shall publish in the Federal Register any adjustments made to the Dollar Amounts.
(2)Rounding
The dollar amount of any adjustment described in paragraph (1) shall be rounded to the next lower dollar.

Legislative History

Notes & Related Subsidiaries

Editorial Notes

Amendments

2026—Subsec. (a). Pub. L. 119–101, § 211(a)(1)(A), substituted in concluding provisions “, commencing on July 1, 2025. The adjustment of the Dollar Amounts shall be calculated by the Secretary using the percentage change in the Price Deflator Index of Multifamily Residential Units Under

Construction

released by the Bureau of the Census from March of the previous year to March of the year in which the adjustment is made, or by the Secretary using an alternative indicator after publishing information about such alternative indicator in the Federal Register for public comment if the Price Deflator Index of Multifamily Residential Units Under

Construction

is not available or published.” for “(commencing in 2004) on the

Effective Date

of the Federal Reserve Board’s adjustment of the $400 figure in the Home Ownership and Equity Protection Act of 1994 (HOEPA). The adjustment of the Dollar Amounts shall be calculated using the percentage change in the Consumer Price Index for All Urban Consumers (CPI–U) as applied by the Federal Reserve Board for purposes of the above-described HOEPA adjustment.” Subsec. (b). Pub. L. 119–101, § 211(a)(1)(B), amended subsec. (b) generally. Prior to amendment, text read as follows: “The Federal Reserve Board on a timely basis shall notify the Secretary, or his designee, in writing of the adjustment described in subsection (a) and of the

Effective Date

of such adjustment in order to permit the Secretary to undertake publication in the Federal Register of corresponding adjustments to the Dollar Amounts. The dollar amount of any adjustment shall be rounded to the next lower dollar.”

Statutory Notes and Related Subsidiaries

Construction

of 2026 Amendment Pub. L. 119–101, title II, § 211(b), July 11, 2026, 140 Stat. 883, provided that: “Nothing in this section [amending this section and section 1713, 1715e, 1715k, 1715l, 1715v, and 1715y of this title] or the

Amendments

made by this section may be construed to limit the authority of the Secretary of Housing and Urban Development to revise the statutory exceptions for high-cost percentage and high-cost areas annual indexing.”

Reference

Citations & Metadata

Citation

12 U.S.C. § 1712a

Title 12, Banks and Banking

Last Updated

Sep 23, 2026

Release point: 119-110