Effective for FHA loans closing after January 1, 2001 the following changes have been made. The FHA/HUD mortgage limits for this market area have been increased to $132,000 for single family homes; $168,936 for 2 family homes; $204,192 for 3 family homes and $253,776 for 4 family homes. Other changes include 1) Lower upfront Mortgage Insurance Premiums 1.5% down from 2.25%. 2) Shortened refund schedule from 7 to 5 years. 3) Monthly MIP can be cancelled when loan is paid down to 78% (must be paid down not new apprasied value). 4) FHA loans on condominiums are again available.