# Administrative, Procedural, and Miscellaneous

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URL: https://www.frixlaw.com/law-library/documents/agency%3Airs%3A92735bebeeb7e4e6

## Record

- **Collection:** Agency decision
- **Document type:** Agency decision

## Text

Part III
Administrative, Procedural, and Miscellaneous

26 CFR 601.601: Rules and Regulations
(Also Part 1, §§ 25, 143, 6a.103A-1(b)(4), 6a.103A-2(f)(5).)

Rev. Proc. 2025-18

SECTION 1. PURPOSE
This revenue procedure provides issuers of qualified mortgage bonds, as defined in
§ 143(a) of the Internal Revenue Code 1, and issuers of mortgage credit certificates, as
defined in § 25(c), with (1) the nationwide average purchase price for residences
located in the United States, and (2) average area purchase price safe harbors for
residences located in statistical areas in each state, the District of Columbia, Puerto
Rico, the Northern Mariana Islands, American Samoa, the Virgin Islands, and Guam.
SECTION 2. BACKGROUND
.01 Section 103(a) provides that, except as provided in § 103(b), gross income does

Unless otherwise specified, all “section” or “§” references are to sections of the Internal Revenue Code
or the Temporary Regulations under Title II of the Omnibus Reconciliation Act of 1980 (26 CFR part 6a).
1

1

not include interest on any State or local bond. Section 103(b)(1) provides that § 103(a)
shall not apply to any private activity bond that is not a "qualified bond" within the
meaning of § 141. Section 141(e) provides, in part, that the term "qualified bond"
means any private activity bond if such bond (1) is a qualified mortgage bond under
§ 143, (2) meets the volume cap requirements under § 146, and (3) meets the
applicable requirements under § 147.
.02 Section 143(a)(1) provides that the term "qualified mortgage bond" means a
bond that is issued as part of a qualified mortgage issue. Section 143(a)(2)(A) provides
that the term "qualified mortgage issue" means an issue of one or more bonds by a
State or political subdivision thereof, but only if: (i) all proceeds of the issue (exclusive of
issuance costs and a reasonably required reserve) are to be used to finance owneroccupied residences; (ii) the issue meets the requirements of subsections (c), (d), (e),
(f), (g), (h), (i), and (m)(7) of § 143; (iii) the issue does not meet the private business
tests of paragraphs (1) and (2) of § 141(b); and (iv) with respect to amounts received
more than 10 years after the date of issuance, repayments of $250,000 or more of
principal on mortgage financing provided by the issue are used by the close of the first
semiannual period beginning after the date the prepayment (or complete repayment) is
received to redeem bonds that are part of the issue.
Average Area Purchase Price
.03 Section 143(e)(1) provides that an issue of bonds meets the purchase price
requirements of § 143(e) if the acquisition cost of each residence financed by the issue
does not exceed 90 percent of the average area purchase price applicable to such
residence. Section 143(e)(5) provides that, in the case of a targeted area residence (as
2

defined in § 143(j)), § 143(e)(1) shall be applied by substituting 110 percent for 90
percent.
.04 Section 143(e)(2) provides that the term "average area purchase price" means,
with respect to any residence, the average purchase price of single-family residences
(in the statistical area in which the residence is located) that were purchased during the
most recent 12-month period for which sufficient statistical information is available.
Under §§ 143(e)(3) and (4), respectively, separate determinations of average area
purchase price are to be made for new and existing residences, and for two-, three-,
and four-family residences.
.05 Section 143(e)(2) also provides that the determination of the average area
purchase price shall be made as of the date on which the commitment to provide the
financing is made or, if earlier, the date of the purchase of the residence.
.06 Section 143(k)(2)(A) provides that the term "statistical area" means (i) a
metropolitan statistical area (MSA), and (ii) any county (or the portion thereof) that is not
within an MSA. Section 143(k)(2)(C) further provides that if sufficient recent statistical
information with respect to a county (or portion thereof) is unavailable, the Secretary
may substitute another area for which there is sufficient recent statistical information for
such county (or portion thereof). In the case of any portion of a State which is not within
a county, § 143(k)(2)(D) provides that the Secretary may designate an area that is the
equivalent of a county. Section 6a.103A-1(b)(4)(i) (issued under § 103A of the Internal
Revenue Code of 1954, the predecessor of § 143) provides that the term “State”
includes a possession of the United States and the District of Columbia.
.07 Section 6a.103A-2(f)(5)(i) provides that an issuer may rely upon the average
3

area purchase price safe harbors published by the Department of the Treasury
(Treasury Department) for the statistical area in which a residence is located. Section
6a.103A-2(f)(5)(i) further provides that an issuer may use an average area purchase
price limitation different from the published safe harbor if the issuer has more accurate
and comprehensive data for the statistical area.
Qualified Mortgage Credit Certificate Program
.08 Section 25(c) permits a State or political subdivision thereof to establish a
qualified mortgage credit certificate program. In general, a qualified mortgage credit
certificate program is a program under which the issuing authority elects not to issue an
amount of private activity bonds that it may otherwise issue during the calendar year
under § 146, and in its place, issues mortgage credit certificates to taxpayers in
connection with the acquisition of their principal residences. Section 25(a)(1) provides,
in general, that the holder of a mortgage credit certificate may claim a federal income
tax credit equal to the product of the credit rate specified in the certificate and the
interest paid or accrued during the tax year on the remaining principal of the
indebtedness incurred to acquire the residence. Section 25(c)(2)(A)(iii)(III) generally
provides that residences acquired in connection with the issuance of mortgage credit
certificates must meet the purchase price requirements of § 143(e).
Income Limitations for Qualified Mortgage Bonds and Mortgage Credit Certificates
.09 Section 143(f) imposes limitations on the income of mortgagors for whom
financing may be provided by qualified mortgage bonds. In addition,
§ 25(c)(2)(A)(iii)(IV) provides that holders of mortgage credit certificates must meet the
income requirement of § 143(f). Generally, under §§ 143(f)(1) and 25(c)(2)(A)(iii)(IV),
4

the income requirement is met only if all owner-financing under a qualified mortgage
bond and all mortgage credit certificates issued under a qualified mortgage credit
certificate program are provided to mortgagors whose family income is 115 percent or
less of the applicable median family income. Section 143(f)(5), however, generally
provides for an upward adjustment to the percentage limitation in high housing cost
areas. High housing cost areas are defined in § 143(f)(5)(C) as any statistical area for
which the housing cost/income ratio is greater than 1.2.
.10 Under § 143(f)(5)(D), the housing cost/income ratio with respect to any statistical
area is determined by dividing (a) the applicable housing price ratio for such area by (b)
the ratio that the area median gross income for such area bears to the median gross
income for the United States. The applicable housing price ratio is the new housing
price ratio (new housing average area purchase price divided by the new housing
average purchase price for the United States) or the existing housing price ratio
(existing housing average area purchase price divided by the existing housing average
purchase price for the United States), whichever results in the housing cost/income ratio
being closer to 1.
Average Area and Nationwide Purchase Price Limitations
.11 Average area purchase price safe harbors for each state, the District of
Columbia, Puerto Rico, the Northern Mariana Islands, American Samoa, the Virgin
Islands, and Guam were last published in Rev. Proc. 2024-21, 2024-19 I.R.B. 1054.
.12 The nationwide average purchase price was last published in section 4.02 of
Rev. Proc. 2024-21. Guidance with respect to the United States and area median gross
income figures that are used in computing the housing cost/income ratio described in
5

§ 143(f)(5) was published in Rev. Proc. 2021-19, 2021-15 I.R.B. 1008.
.13 This revenue procedure uses Federal Housing Administration (FHA) loan limits
for a given statistical area to calculate the average area purchase price safe harbor for
that area. FHA sets limits on the dollar value of loans it will insure based on median
home prices and conforming loan limits established by the Federal Home Loan
Mortgage Corporation. In particular, FHA sets an area's loan limit at 95 percent of the
median home sales price for the area, subject to certain floors and caps measured
against conforming loan limits.
.14 To calculate the average area purchase price safe harbors in this revenue
procedure, the FHA loan limits are adjusted to take into account the differences
between average and median purchase prices. Because FHA loan limits do not
differentiate between new and existing residences, this revenue procedure contains a
single average area purchase price safe harbor for both new and existing residences in
a statistical area.
.15 The average area purchase price safe harbors listed in section 4.01 of this
revenue procedure are based on FHA loan limits released November 26, 2024. FHA
loan limits are available for statistical areas in each state, the District of Columbia,
Puerto Rico, the Northern Mariana Islands, American Samoa, the Virgin Islands, and
Guam. See section 3.03 of this revenue procedure with respect to FHA loan limits
revised after November 26, 2024.
.16 OMB Bulletin No. 03-04, dated and effective June 6, 2003, revised the definitions
of the nation’s metropolitan areas and recognized 49 new MSAs. The OMB bulletin no
longer includes primary MSAs.
6

SECTION 3. APPLICATION
Average Area Purchase Price Safe Harbors
.01 Average area purchase price safe harbors for statistical areas in each state, the
District of Columbia, Puerto Rico, the Northern Mariana Islands, American Samoa, the
Virgin Islands, and Guam are set forth in section 4.01 of this revenue procedure.
Average area purchase price safe harbors are provided for single-family and two to
four-family residences. For each type of residence, section 4.01 of this revenue
procedure contains a single safe harbor that may be used for both new and existing
residences. Issuers of qualified mortgage bonds and issuers of mortgage credit
certificates may rely on these safe harbors to satisfy the requirements of §§ 143(e) and
(f). Section 4.01 of this revenue procedure provides safe harbors for MSAs and for
certain counties and county equivalents. If no purchase price safe harbor is available
for a statistical area, the safe harbor for "ALL OTHER AREAS" may be used for that
statistical area.
.02 If a residence is in an MSA, the safe harbor applicable to it is the limitation of that
MSA. If an MSA falls in more than one state, the MSA is listed in section 4.01 of this
revenue procedure under each state.
.03 If the FHA revises the FHA loan limit for any statistical area after November 26,
2024, an issuer of qualified mortgage bonds or mortgage credit certificates may use the
revised FHA loan limit for that statistical area to compute (as provided in the next
sentence) a revised average area purchase price safe harbor for the statistical area
provided that the issuer maintains records evidencing the revised FHA loan limit. The
revised average area purchase price safe harbor for that statistical area is computed by
7

dividing the revised FHA loan limit by 0.867.
.04 If, pursuant to § 6a.103A-2(f)(5)(i), an issuer uses more accurate and
comprehensive data to determine the average area purchase price for a statistical area,
the issuer must make separate average area purchase price determinations for new
and existing residences. Moreover, when computing the average area purchase price
for a statistical area that is an MSA, as defined in OMB Bulletin No. 23-01, the issuer
must make the computation for the entire applicable MSA. When computing the
average area purchase price for a statistical area that is not an MSA, the issuer must
make the computation for the entire statistical area and may not combine statistical
areas. Thus, for example, the issuer may not combine two or more counties.
.05 If an issuer receives a ruling permitting it to rely on an average area purchase
price limitation that is higher than the applicable safe harbor in this revenue procedure,
the issuer may rely on that higher limitation for the purpose of satisfying the
requirements of §§ 143(e) and (f) for bonds sold, and mortgage credit certificates
issued, not more than 30 months following the termination date of the 12-month period
used by the issuer to compute the limitation.
Nationwide Average Purchase Price
.06 Section 4.02 of this revenue procedure sets forth a single nationwide average
purchase price for purposes of computing the housing cost/income ratio under
§ 143(f)(5).
.07 Issuers must use the nationwide average purchase price set forth in section 4.02
of this revenue procedure when computing the housing cost/income ratio under
§ 143(f)(5) regardless of whether they are relying on the average area purchase price
8

safe harbors contained in this revenue procedure or using more accurate and
comprehensive data to determine average area purchase prices for new and existing
residences for a statistical area that are different from the published safe harbors in this
revenue procedure.
.08 If, pursuant to section 6.02 of this revenue procedure, an issuer relies on the
average area purchase price safe harbors contained in Rev. Proc. 2024-21, the issuer
must use the nationwide average purchase price set forth in section 4.02 of Rev. Proc.
2024-21 in computing the housing cost/income ratio under § 143(f)(5). Likewise, if,
pursuant to section 6.04 of this revenue procedure, an issuer relies on the nationwide
average purchase price published in Rev. Proc. 2024-21, the issuer must use the
average area purchase price safe harbors set forth in section 4.01 of Rev. Proc. 202421 in computing the housing cost/income ratio under § 143(f)(5).
SECTION 4. AVERAGE AREA AND NATIONWIDE AVERAGE PURCHASE PRICES
.01 Average area purchase prices for single-family and two to four-family residences
in MSAs, and for certain counties and county equivalents are set forth below. The safe
harbor for “ALL OTHER AREAS” (found at the end of the table below) may be used for
a statistical area that is not listed below.

9

2025 Average Area Purchase Prices for Mortgage Revenue Bonds

County Name

State

One-Unit
Limit

ALEUTIANS WEST
HOONAH-ANGOON C
JUNEAU CITY AND
KODIAK ISLAND B
SITKA CITY AND
SKAGWAY MUNICIP
COCONINO
MARICOPA
PINAL
ALAMEDA
CONTRA COSTA
EL DORADO
LOS ANGELES
MARIN
MENDOCINO
MONO
MONTEREY
NAPA
NEVADA
ORANGE
PLACER
RIVERSIDE
SACRAMENTO
SAN BENITO
SAN BERNARDINO
SAN DIEGO
SAN FRANCISCO
SAN JOAQUIN
SAN LUIS OBISPO
SAN MATEO
SANTA BARBARA
SANTA CLARA
SANTA CRUZ
SOLANO
SONOMA
STANISLAUS
VENTURA
YOLO
ADAMS
ARAPAHOE
BOULDER
BROOMFIELD
CHAFFEE

AK
AK
AK
AK
AK
AK
AZ
AZ
AZ
CA
CA
CA
CA
CA
CA
CA
CA
CA
CA
CA
CA
CA
CA
CA
CA
CA
CA
CA
CA
CA
CA
CA
CA
CA
CA
CA
CA
CA
CO
CO
CO
CO
CO

675,212
604,905
638,068
624,803
676,538
604,905
650,007
630,109
630,109
1,395,468
1,395,468
880,826
1,395,468
1,395,468
630,109
895,418
1,119,605
1,173,993
742,866
1,395,468
880,826
776,029
880,826
1,395,468
776,029
1,242,973
1,395,468
782,662
1,115,625
1,395,468
1,053,277
1,395,468
1,395,468
790,621
1,034,706
618,170
1,173,993
880,826
961,746
961,746
994,909
961,746
769,396

10

Two-Unit
Limit

ThreeUnit
Limit

Four-Unit
Limit

864,389
774,357
816,864
799,849
866,061
774,357
832,148
806,655
806,655
1,786,771
1,786,771
1,127,622
1,786,771
1,786,771
806,655
1,146,309
1,433,304
1,502,919
951,018
1,786,771
1,127,622
993,467
1,127,622
1,786,771
993,467
1,591,220
1,786,771
1,001,946
1,428,228
1,786,771
1,348,405
1,786,771
1,786,771
1,012,154
1,324,642
791,371
1,502,919
1,127,622
1,231,207
1,231,207
1,273,657
1,231,207
984,989

1,044,857
936,022
987,354
966,821
1,046,875
936,022
1,005,868
975,069
975,069
2,159,645
2,159,645
1,363,055
2,159,645
2,159,645
975,069
1,385,606
1,732,526
1,816,675
1,149,538
2,159,645
1,363,055
1,200,870
1,363,055
2,159,645
1,200,870
1,923,434
2,159,645
1,211,136
1,726,355
2,159,645
1,629,921
2,159,645
2,159,645
1,223,421
1,601,141
956,555
1,816,675
1,363,055
1,488,269
1,488,269
1,539,600
1,488,269
1,190,604

1,298,515
1,163,265
1,227,055
1,201,562
1,301,053
1,163,265
1,250,010
1,211,771
1,211,771
2,684,092
2,684,092
1,693,941
2,684,092
2,684,092
1,211,771
1,721,972
2,153,157
2,257,723
1,428,632
2,684,092
1,693,941
1,492,364
1,693,941
2,684,092
1,492,364
2,390,378
2,684,092
1,505,168
2,145,486
2,684,092
2,025,578
2,684,092
2,684,092
1,520,452
1,989,876
1,188,816
2,257,723
1,693,941
1,849,551
1,849,551
1,913,340
1,849,551
1,479,618

CLEAR CREEK
DENVER
DOUGLAS
EAGLE
EL PASO
ELBERT
GARFIELD
GILPIN
GRAND
GUNNISON
JEFFERSON
LA PLATA
LARIMER
MONTROSE
OURAY
PARK
PITKIN
ROUTT
SAN MIGUEL
SUMMIT
TELLER
WELD
FAIRFIELD
DISTRICT OF COL
NEW CASTLE
BAKER
BROWARD
CLAY
COLLIER
DUVAL
MANATEE
MARTIN
MIAMI-DADE
MONROE
NASSAU
OKALOOSA
PALM BEACH
SARASOTA
ST. JOHNS
ST. LUCIE
WALTON
BARROW
BARTOW
BUTTS
CARROLL
CHEROKEE
CLARKE
CLAYTON
COBB
COWETA

CO
CO
CO
CO
CO
CO
CO
CO
CO
CO
CO
CO
CO
CO
CO
CO
CO
CO
CO
CO
CO
CO
CT
DC
DE
FL
FL
FL
FL
FL
FL
FL
FL
FL
FL
FL
FL
FL
FL
FL
FL
GA
GA
GA
GA
GA
GA
GA
GA
GA

961,746
961,746
961,746
1,395,468
615,517
961,746
1,395,468
961,746
1,008,175
862,255
961,746
795,927
729,600
866,234
866,234
961,746
1,395,468
1,167,360
1,205,830
1,231,034
615,517
650,007
981,644
1,395,468
685,824
669,906
754,804
669,906
882,153
669,906
631,436
688,477
754,804
1,115,625
669,906
696,436
754,804
631,436
669,906
688,477
696,436
794,601
794,601
794,601
794,601
794,601
696,436
794,601
794,601
794,601

11

1,231,207
1,231,207
1,231,207
1,786,771
787,968
1,231,207
1,786,771
1,231,207
1,290,671
1,103,859
1,231,207
1,018,902
934,004
1,108,935
1,108,935
1,231,207
1,786,771
1,494,440
1,543,695
1,575,936
787,968
832,148
1,256,700
1,786,771
878,000
857,583
966,302
857,583
1,129,294
857,583
808,328
881,345
966,302
1,428,228
857,583
891,554
966,302
808,328
857,583
881,345
891,554
1,017,230
1,017,230
1,017,230
1,017,230
1,017,230
891,554
1,017,230
1,017,230
1,017,230

1,488,269
1,488,269
1,488,269
2,159,645
952,460
1,488,269
2,159,645
1,488,269
1,560,075
1,334,274
1,488,269
1,231,669
1,129,006
1,340,446
1,340,446
1,488,269
2,159,645
1,806,467
1,865,988
1,904,977
952,460
1,005,868
1,519,068
2,159,645
1,061,294
1,036,667
1,167,995
1,036,667
1,365,073
1,036,667
977,087
1,065,389
1,167,995
1,726,355
1,036,667
1,077,674
1,167,995
977,087
1,036,667
1,065,389
1,077,674
1,229,593
1,229,593
1,229,593
1,229,593
1,229,593
1,077,674
1,229,593
1,229,593
1,229,593

1,849,551
1,849,551
1,849,551
2,684,092
1,183,682
1,849,551
2,684,092
1,849,551
1,938,833
1,658,182
1,849,551
1,530,661
1,403,082
1,665,853
1,665,853
1,849,551
2,684,092
2,244,977
2,318,975
2,367,423
1,183,682
1,250,010
1,887,790
2,684,092
1,318,932
1,288,307
1,451,587
1,288,307
1,696,479
1,288,307
1,214,308
1,324,008
1,451,587
2,145,486
1,288,307
1,339,292
1,451,587
1,214,308
1,288,307
1,324,008
1,339,292
1,528,123
1,528,123
1,528,123
1,528,123
1,528,123
1,339,292
1,528,123
1,528,123
1,528,123

DAWSON
DEKALB
DOUGLAS
FAYETTE
FORSYTH
FULTON
GREENE
GWINNETT
HARALSON
HEARD
HENRY
JASPER
LAMAR
MADISON
MERIWETHER
MORGAN
NEWTON
OCONEE
OGLETHORPE
PAULDING
PICKENS
PIKE
ROCKDALE
SPALDING
WALTON
GUAM
HAWAII
HONOLULU
KALAWAO
KAUAI
MAUI
ADA
BLAINE
BOISE
CAMAS
CANYON
GEM
KOOTENAI
OWYHEE
TETON
VALLEY
BARNSTABLE
BRISTOL
DUKES
ESSEX
MIDDLESEX
NANTUCKET
NORFOLK
PLYMOUTH
SUFFOLK

GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GA
GU
HI
HI
HI
HI
HI
ID
ID
ID
ID
ID
ID
ID
ID
ID
ID
MA
MA
MA
MA
MA
MA
MA
MA
MA

12

794,601
794,601
794,601
794,601
794,601
794,601
640,722
794,601
794,601
794,601
794,601
794,601
794,601
696,436
794,601
794,601
794,601
696,436
696,436
794,601
794,601
794,601
794,601
794,601
794,601
650,007
659,293
899,398
1,268,178
1,281,443
1,268,178
676,538
875,520
676,538
875,520
676,538
676,538
660,620
676,538
1,395,468
661,946
921,949
848,989
1,395,468
1,054,604
1,054,604
1,395,468
1,054,604
1,054,604
1,054,604

1,017,230
1,017,230
1,017,230
1,017,230
1,017,230
1,017,230
820,209
1,017,230
1,017,230
1,017,230
1,017,230
1,017,230
1,017,230
891,554
1,017,230
1,017,230
1,017,230
891,554
891,554
1,017,230
1,017,230
1,017,230
1,017,230
1,017,230
1,017,230
832,148
844,029
1,151,384
1,623,519
1,640,476
1,623,519
866,061
1,120,816
866,061
1,120,816
866,061
866,061
845,702
866,061
1,786,771
847,432
1,180,280
1,086,845
1,786,771
1,350,077
1,350,077
1,786,771
1,350,077
1,350,077
1,350,077

1,229,593
1,229,593
1,229,593
1,229,593
1,229,593
1,229,593
991,449
1,229,593
1,229,593
1,229,593
1,229,593
1,229,593
1,229,593
1,077,674
1,229,593
1,229,593
1,229,593
1,077,674
1,077,674
1,229,593
1,229,593
1,229,593
1,229,593
1,229,593
1,229,593
1,005,868
1,020,229
1,391,777
1,962,480
1,982,955
1,962,480
1,046,875
1,354,807
1,046,875
1,354,807
1,046,875
1,046,875
1,022,248
1,046,875
2,159,645
1,024,324
1,426,671
1,313,742
2,159,645
1,631,940
1,631,940
2,159,645
1,631,940
1,631,940
1,631,940

1,528,123
1,528,123
1,528,123
1,528,123
1,528,123
1,528,123
1,232,188
1,528,123
1,528,123
1,528,123
1,528,123
1,528,123
1,528,123
1,339,292
1,528,123
1,528,123
1,528,123
1,339,292
1,339,292
1,528,123
1,528,123
1,528,123
1,528,123
1,528,123
1,528,123
1,250,010
1,267,889
1,729,643
2,438,883
2,464,376
2,438,883
1,301,053
1,683,733
1,301,053
1,683,733
1,301,053
1,301,053
1,270,427
1,301,053
2,684,092
1,272,965
1,773,015
1,632,689
2,684,092
2,028,115
2,028,115
2,684,092
2,028,115
2,028,115
2,028,115

ANNE ARUNDEL
BALTIMORE
BALTIMORE CITY
CALVERT
CARROLL
CECIL
CHARLES
FREDERICK
HARFORD
HOWARD
MONTGOMERY
PRINCE GEORGE'S
QUEEN ANNE'S
CUMBERLAND
SAGADAHOC
YORK
ANOKA
CARVER
CHISAGO
DAKOTA
HENNEPIN
ISANTI
LE SUEUR
MILLE LACS
RAMSEY
SCOTT
SHERBURNE
WASHINGTON
WRIGHT
NORTHERN ISLAND
SAIPAN
TINIAN
CARBON
FLATHEAD
GALLATIN
MISSOULA
PARK
STILLWATER
YELLOWSTONE
CAMDEN
CHATHAM
CURRITUCK
DARE
DURHAM
FRANKLIN
GATES
GRANVILLE
JOHNSTON
ORANGE
PASQUOTANK

MD
MD
MD
MD
MD
MD
MD
MD
MD
MD
MD
MD
MD
ME
ME
ME
MN
MN
MN
MN
MN
MN
MN
MN
MN
MN
MN
MN
MN
MP
MP
MP
MT
MT
MT
MT
MT
MT
MT
NC
NC
NC
NC
NC
NC
NC
NC
NC
NC
NC

13

843,683
843,683
843,683
1,395,468
843,683
685,824
1,395,468
1,395,468
843,683
843,683
1,395,468
1,395,468
843,683
692,457
692,457
692,457
610,211
610,211
610,211
610,211
610,211
610,211
610,211
610,211
610,211
610,211
610,211
610,211
610,211
604,905
610,211
614,191
870,214
660,620
829,091
646,028
650,007
870,214
870,214
874,194
729,600
874,194
765,417
729,600
611,538
874,194
729,600
611,538
729,600
928,582

1,080,039
1,080,039
1,080,039
1,786,771
1,080,039
878,000
1,786,771
1,786,771
1,080,039
1,080,039
1,786,771
1,786,771
1,080,039
886,479
886,479
886,479
781,162
781,162
781,162
781,162
781,162
781,162
781,162
781,162
781,162
781,162
781,162
781,162
781,162
774,357
781,162
786,296
1,114,010
845,702
1,061,410
827,015
832,148
1,114,010
1,114,010
1,119,143
934,004
1,119,143
979,856
934,004
782,893
1,119,143
934,004
782,893
934,004
1,188,758

1,305,552
1,305,552
1,305,552
2,159,645
1,305,552
1,061,294
2,159,645
2,159,645
1,305,552
1,305,552
2,159,645
2,159,645
1,305,552
1,071,561
1,071,561
1,071,561
944,270
944,270
944,270
944,270
944,270
944,270
944,270
944,270
944,270
944,270
944,270
944,270
944,270
936,022
944,270
950,441
1,346,617
1,022,248
1,283,000
999,696
1,005,868
1,346,617
1,346,617
1,352,788
1,129,006
1,352,788
1,184,432
1,129,006
946,288
1,352,788
1,129,006
946,288
1,129,006
1,436,937

1,622,481
1,622,481
1,622,481
2,684,092
1,622,481
1,318,932
2,684,092
2,684,092
1,622,481
1,622,481
2,684,092
2,684,092
1,622,481
1,331,679
1,331,679
1,331,679
1,173,474
1,173,474
1,173,474
1,173,474
1,173,474
1,173,474
1,173,474
1,173,474
1,173,474
1,173,474
1,173,474
1,173,474
1,173,474
1,163,265
1,173,474
1,181,145
1,673,524
1,270,427
1,594,450
1,242,397
1,250,010
1,673,524
1,673,524
1,681,195
1,403,082
1,681,195
1,472,004
1,403,082
1,176,069
1,681,195
1,403,082
1,176,069
1,403,082
1,785,761

PERQUIMANS
PERSON
WAKE
DAWSON
GOSPER
HILLSBOROUGH
ROCKINGHAM
STRAFFORD
BERGEN
BURLINGTON
CAMDEN
CAPE MAY
ESSEX
GLOUCESTER
HUDSON
HUNTERDON
MIDDLESEX
MONMOUTH
MORRIS
OCEAN
PASSAIC
SALEM
SOMERSET
SUSSEX
UNION
LOS ALAMOS
SANTA FE
CARSON CITY
DOUGLAS
STOREY
WASHOE
BRONX
KINGS
NASSAU
NEW YORK
PUTNAM
QUEENS
RICHMOND
ROCKLAND
SUFFOLK
WESTCHESTER
DELAWARE
FAIRFIELD
FRANKLIN
HOCKING
LICKING
MADISON
MORROW
PERRY
PICKAWAY

NC
NC
NC
NE
NE
NH
NH
NH
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NJ
NM
NM
NV
NV
NV
NV
NY
NY
NY
NY
NY
NY
NY
NY
NY
NY
OH
OH
OH
OH
OH
OH
OH
OH
OH

14

928,582
729,600
611,538
696,436
696,436
630,109
1,054,604
1,054,604
1,395,468
685,824
685,824
769,396
1,395,468
685,824
1,395,468
1,395,468
1,395,468
1,395,468
1,395,468
1,395,468
1,395,468
685,824
1,395,468
1,395,468
1,395,468
798,581
624,803
663,273
829,091
729,600
729,600
1,395,468
1,395,468
1,395,468
1,395,468
1,395,468
1,395,468
1,395,468
1,395,468
1,395,468
1,395,468
656,640
656,640
656,640
656,640
656,640
656,640
656,640
656,640
656,640

1,188,758
934,004
782,893
891,554
891,554
806,655
1,350,077
1,350,077
1,786,771
878,000
878,000
984,989
1,786,771
878,000
1,786,771
1,786,771
1,786,771
1,786,771
1,786,771
1,786,771
1,786,771
878,000
1,786,771
1,786,771
1,786,771
1,022,305
799,849
849,105
1,061,410
934,004
934,004
1,786,771
1,786,771
1,786,771
1,786,771
1,786,771
1,786,771
1,786,771
1,786,771
1,786,771
1,786,771
840,626
840,626
840,626
840,626
840,626
840,626
840,626
840,626
840,626

1,436,937
1,129,006
946,288
1,077,674
1,077,674
975,069
1,631,940
1,631,940
2,159,645
1,061,294
1,061,294
1,190,604
2,159,645
1,061,294
2,159,645
2,159,645
2,159,645
2,159,645
2,159,645
2,159,645
2,159,645
1,061,294
2,159,645
2,159,645
2,159,645
1,235,764
966,821
1,026,400
1,283,000
1,129,006
1,129,006
2,159,645
2,159,645
2,159,645
2,159,645
2,159,645
2,159,645
2,159,645
2,159,645
2,159,645
2,159,645
1,016,134
1,016,134
1,016,134
1,016,134
1,016,134
1,016,134
1,016,134
1,016,134
1,016,134

1,785,761
1,403,082
1,176,069
1,339,292
1,339,292
1,211,771
2,028,115
2,028,115
2,684,092
1,318,932
1,318,932
1,479,618
2,684,092
1,318,932
2,684,092
2,684,092
2,684,092
2,684,092
2,684,092
2,684,092
2,684,092
1,318,932
2,684,092
2,684,092
2,684,092
1,535,736
1,201,562
1,275,560
1,594,450
1,403,082
1,403,082
2,684,092
2,684,092
2,684,092
2,684,092
2,684,092
2,684,092
2,684,092
2,684,092
2,684,092
2,684,092
1,262,756
1,262,756
1,262,756
1,262,756
1,262,756
1,262,756
1,262,756
1,262,756
1,262,756

UNION
BENTON
CLACKAMAS
CLATSOP
COLUMBIA
DESCHUTES
HOOD RIVER
MULTNOMAH
WASHINGTON
YAMHILL
BUCKS
CHESTER
DELAWARE
MONTGOMERY
PHILADELPHIA
PIKE
AGUAS BUENAS
AIBONITO
BARCELONETA
BARRANQUITAS
BAYAMON
CAGUAS
CANOVANAS
CAROLINA
CATANO
CAYEY
CEIBA
CIALES
CIDRA
COMERIO
COROZAL
CULEBRA
DORADO
FAJARDO
FLORIDA
GUAYNABO
GURABO
HUMACAO
JUNCOS
LAS PIEDRAS
LOIZA
LUQUILLO
MANATI
MAUNABO
MOROVIS
NAGUABO
NARANJITO
OROCOVIS
RIO GRANDE
SAN JUAN

OH
OR
OR
OR
OR
OR
OR
OR
OR
OR
PA
PA
PA
PA
PA
PA
PR
PR
PR
PR
PR
PR
PR
PR
PR
PR
PR
PR
PR
PR
PR
PR
PR
PR
PR
PR
PR
PR
PR
PR
PR
PR
PR
PR
PR
PR
PR
PR
PR
PR

656,640
689,804
802,560
647,354
802,560
822,458
879,500
802,560
802,560
802,560
685,824
685,824
685,824
685,824
685,824
1,395,468
795,927
795,927
795,927
795,927
795,927
795,927
795,927
795,927
795,927
795,927
795,927
795,927
795,927
795,927
795,927
614,191
795,927
795,927
795,927
795,927
795,927
795,927
795,927
795,927
795,927
795,927
795,927
795,927
795,927
795,927
795,927
795,927
795,927
795,927

15

840,626
883,076
1,027,438
828,745
1,027,438
1,052,874
1,125,949
1,027,438
1,027,438
1,027,438
878,000
878,000
878,000
878,000
878,000
1,786,771
1,018,902
1,018,902
1,018,902
1,018,902
1,018,902
1,018,902
1,018,902
1,018,902
1,018,902
1,018,902
1,018,902
1,018,902
1,018,902
1,018,902
1,018,902
786,296
1,018,902
1,018,902
1,018,902
1,018,902
1,018,902
1,018,902
1,018,902
1,018,902
1,018,902
1,018,902
1,018,902
1,018,902
1,018,902
1,018,902
1,018,902
1,018,902
1,018,902
1,018,902

1,016,134
1,067,408
1,241,935
1,001,715
1,241,935
1,272,734
1,360,978
1,241,935
1,241,935
1,241,935
1,061,294
1,061,294
1,061,294
1,061,294
1,061,294
2,159,645
1,231,669
1,231,669
1,231,669
1,231,669
1,231,669
1,231,669
1,231,669
1,231,669
1,231,669
1,231,669
1,231,669
1,231,669
1,231,669
1,231,669
1,231,669
950,441
1,231,669
1,231,669
1,231,669
1,231,669
1,231,669
1,231,669
1,231,669
1,231,669
1,231,669
1,231,669
1,231,669
1,231,669
1,231,669
1,231,669
1,231,669
1,231,669
1,231,669
1,231,669

1,262,756
1,326,546
1,543,407
1,244,934
1,543,407
1,581,646
1,691,346
1,543,407
1,543,407
1,543,407
1,318,932
1,318,932
1,318,932
1,318,932
1,318,932
2,684,092
1,530,661
1,530,661
1,530,661
1,530,661
1,530,661
1,530,661
1,530,661
1,530,661
1,530,661
1,530,661
1,530,661
1,530,661
1,530,661
1,530,661
1,530,661
1,181,145
1,530,661
1,530,661
1,530,661
1,530,661
1,530,661
1,530,661
1,530,661
1,530,661
1,530,661
1,530,661
1,530,661
1,530,661
1,530,661
1,530,661
1,530,661
1,530,661
1,530,661
1,530,661

SAN LORENZO
TOA ALTA
TOA BAJA
TRUJILLO ALTO
VEGA ALTA
VEGA BAJA
YABUCOA
BRISTOL
KENT
NEWPORT
PROVIDENCE
WASHINGTON
BEAUFORT
BERKELEY
CHARLESTON
DORCHESTER
JASPER
LAWRENCE
CANNON
CHEATHAM
DAVIDSON
DICKSON
MACON
MAURY
ROBERTSON
RUTHERFORD
SMITH
SUMNER
TROUSDALE
WILLIAMSON
WILSON
ATASCOSA
BANDERA
BASTROP
BEXAR
CALDWELL
COLLIN
COMAL
DALLAS
DENTON
ELLIS
GUADALUPE
HAYS
HUNT
JOHNSON
KAUFMAN
KENDALL
MEDINA
PARKER
ROCKWALL

PR
PR
PR
PR
PR
PR
PR
RI
RI
RI
RI
RI
SC
SC
SC
SC
SC
SD
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TN
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX
TX

795,927
795,927
795,927
795,927
795,927
795,927
795,927
848,989
848,989
848,989
848,989
848,989
703,069
729,600
729,600
729,600
703,069
624,803
1,140,829
1,140,829
1,140,829
1,140,829
1,140,829
1,140,829
1,140,829
1,140,829
1,140,829
1,140,829
1,140,829
1,140,829
1,140,829
643,375
643,375
659,293
643,375
659,293
650,007
643,375
650,007
650,007
650,007
643,375
659,293
650,007
650,007
650,007
643,375
643,375
650,007
650,007

16

1,018,902
1,018,902
1,018,902
1,018,902
1,018,902
1,018,902
1,018,902
1,086,845
1,086,845
1,086,845
1,086,845
1,086,845
900,032
934,004
934,004
934,004
900,032
799,849
1,460,469
1,460,469
1,460,469
1,460,469
1,460,469
1,460,469
1,460,469
1,460,469
1,460,469
1,460,469
1,460,469
1,460,469
1,460,469
823,612
823,612
844,029
823,612
844,029
832,148
823,612
832,148
832,148
832,148
823,612
844,029
832,148
832,148
832,148
823,612
823,612
832,148
832,148

1,231,669
1,231,669
1,231,669
1,231,669
1,231,669
1,231,669
1,231,669
1,313,742
1,313,742
1,313,742
1,313,742
1,313,742
1,087,941
1,129,006
1,129,006
1,129,006
1,087,941
966,821
1,765,402
1,765,402
1,765,402
1,765,402
1,765,402
1,765,402
1,765,402
1,765,402
1,765,402
1,765,402
1,765,402
1,765,402
1,765,402
995,601
995,601
1,020,229
995,601
1,020,229
1,005,868
995,601
1,005,868
1,005,868
1,005,868
995,601
1,020,229
1,005,868
1,005,868
1,005,868
995,601
995,601
1,005,868
1,005,868

1,530,661
1,530,661
1,530,661
1,530,661
1,530,661
1,530,661
1,530,661
1,632,689
1,632,689
1,632,689
1,632,689
1,632,689
1,352,096
1,403,082
1,403,082
1,403,082
1,352,096
1,201,562
2,193,934
2,193,934
2,193,934
2,193,934
2,193,934
2,193,934
2,193,934
2,193,934
2,193,934
2,193,934
2,193,934
2,193,934
2,193,934
1,237,263
1,237,263
1,267,889
1,237,263
1,267,889
1,250,010
1,237,263
1,250,010
1,250,010
1,250,010
1,237,263
1,267,889
1,250,010
1,250,010
1,250,010
1,237,263
1,237,263
1,250,010
1,250,010

TARRANT
TRAVIS
WILLIAMSON
WILSON
WISE
BOX ELDER
DAVIS
GRAND
JUAB
MORGAN
RICH
SALT LAKE
SUMMIT
TOOELE
UTAH
WASATCH
WASHINGTON
WAYNE
WEBER
ALBEMARLE
ALEXANDRIA CITY
AMELIA
ARLINGTON
CHARLES CITY
CHARLOTTESVILLE
CHESAPEAKE CITY
CHESTERFIELD
CLARKE
COLONIAL HEIGHT
CULPEPER
DINWIDDIE
FAIRFAX
FAIRFAX CITY
FALLS CHURCH CI
FAUQUIER
FLUVANNA
FRANKLIN CITY
FREDERICKSBURG
GLOUCESTER
GOOCHLAND
GREENE
HAMPTON CITY
HANOVER
HENRICO
HOPEWELL CITY
ISLE OF WIGHT
JAMES CITY
KING AND QUEEN
KING WILLIAM
LOUDOUN

TX
TX
TX
TX
TX
UT
UT
UT
UT
UT
UT
UT
UT
UT
UT
UT
UT
UT
UT
VA
VA
VA
VA
VA
VA
VA
VA
VA
VA
VA
VA
VA
VA
VA
VA
VA
VA
VA
VA
VA
VA
VA
VA
VA
VA
VA
VA
VA
VA
VA

650,007
659,293
659,293
643,375
650,007
858,275
858,275
818,479
693,783
858,275
668,579
725,620
1,342,464
725,620
693,783
1,342,464
684,498
1,150,115
858,275
683,171
1,395,468
777,356
1,395,468
777,356
683,171
874,194
777,356
1,395,468
777,356
1,395,468
777,356
1,395,468
1,395,468
1,395,468
1,395,468
683,171
874,194
1,395,468
874,194
777,356
683,171
874,194
777,356
777,356
777,356
874,194
874,194
777,356
777,356
1,395,468

17

832,148
844,029
844,029
823,612
832,148
1,098,726
1,098,726
1,047,798
888,151
1,098,726
855,910
928,928
1,718,626
928,928
888,151
1,718,626
876,270
1,472,350
1,098,726
874,597
1,786,771
995,140
1,786,771
995,140
874,597
1,119,143
995,140
1,786,771
995,140
1,786,771
995,140
1,786,771
1,786,771
1,786,771
1,786,771
874,597
1,119,143
1,786,771
1,119,143
995,140
874,597
1,119,143
995,140
995,140
995,140
1,119,143
1,119,143
995,140
995,140
1,786,771

1,005,868
1,020,229
1,020,229
995,601
1,005,868
1,328,161
1,328,161
1,266,563
1,073,579
1,328,161
1,034,590
1,122,834
2,077,428
1,122,834
1,073,579
2,077,428
1,059,218
1,779,763
1,328,161
1,057,142
2,159,645
1,202,889
2,159,645
1,202,889
1,057,142
1,352,788
1,202,889
2,159,645
1,202,889
2,159,645
1,202,889
2,159,645
2,159,645
2,159,645
2,159,645
1,057,142
1,352,788
2,159,645
1,352,788
1,202,889
1,057,142
1,352,788
1,202,889
1,202,889
1,202,889
1,352,788
1,352,788
1,202,889
1,202,889
2,159,645

1,250,010
1,267,889
1,267,889
1,237,263
1,250,010
1,650,569
1,650,569
1,574,033
1,334,217
1,650,569
1,285,769
1,395,468
2,581,746
1,395,468
1,334,217
2,581,746
1,316,337
2,211,813
1,650,569
1,313,799
2,684,092
1,494,959
2,684,092
1,494,959
1,313,799
1,681,195
1,494,959
2,684,092
1,494,959
2,684,092
1,494,959
2,684,092
2,684,092
2,684,092
2,684,092
1,313,799
1,681,195
2,684,092
1,681,195
1,494,959
1,313,799
1,681,195
1,494,959
1,494,959
1,494,959
1,681,195
1,681,195
1,494,959
1,494,959
2,684,092

MADISON
MANASSAS CITY
MANASSAS PARK C
MATHEWS
NELSON
NEW KENT
NEWPORT NEWS CI
NORFOLK CITY
PETERSBURG CITY
POQUOSON CITY
PORTSMOUTH CITY
POWHATAN
PRINCE GEORGE
PRINCE WILLIAM
RAPPAHANNOCK
RICHMOND CITY
SOUTHAMPTON
SPOTSYLVANIA
STAFFORD
SUFFOLK CITY
SUSSEX
VIRGINIA BEACH
WARREN
WILLIAMSBURG CI
YORK
ST. JOHN ISLAND
ST. THOMAS ISLA
CHITTENDEN
FRANKLIN
GRAND ISLE
CHELAN
CLARK
DOUGLAS
ISLAND
KING
KITSAP
PIERCE
SKAGIT
SKAMANIA
SNOHOMISH
THURSTON
WHATCOM
WHITMAN
PIERCE
ST. CROIX
JEFFERSON
TETON

VA
VA
VA
VA
VA
VA
VA
VA
VA
VA
VA
VA
VA
VA
VA
VA
VA
VA
VA
VA
VA
VA
VA
VA
VA
VI
VI
VT
VT
VT
WA
WA
WA
WA
WA
WA
WA
WA
WA
WA
WA
WA
WA
WI
WI
WV
WY

All other areas – 2,794 counties (floor):

18

1,395,468
1,395,468
1,395,468
874,194
683,171
777,356
874,194
874,194
777,356
874,194
874,194
777,356
777,356
1,395,468
1,395,468
777,356
874,194
1,395,468
1,395,468
874,194
777,356
874,194
1,395,468
874,194
874,194
1,285,423
776,029
663,273
663,273
663,273
630,109
802,560
630,109
696,436
1,196,544
663,273
1,196,544
650,007
802,560
1,196,544
643,375
729,600
668,579
610,211
610,211
1,395,468
1,395,468

1,786,771
1,786,771
1,786,771
1,119,143
874,597
995,140
1,119,143
1,119,143
995,140
1,119,143
1,119,143
995,140
995,140
1,786,771
1,786,771
995,140
1,119,143
1,786,771
1,786,771
1,119,143
995,140
1,119,143
1,786,771
1,119,143
1,119,143
1,645,609
993,467
849,105
849,105
849,105
806,655
1,027,438
806,655
891,554
1,531,814
849,105
1,531,814
832,148
1,027,438
1,531,814
823,612
934,004
855,910
781,162
781,162
1,786,771
1,786,771

2,159,645
2,159,645
2,159,645
1,352,788
1,057,142
1,202,889
1,352,788
1,352,788
1,202,889
1,352,788
1,352,788
1,202,889
1,202,889
2,159,645
2,159,645
1,202,889
1,352,788
2,159,645
2,159,645
1,352,788
1,202,889
1,352,788
2,159,645
1,352,788
1,352,788
1,989,126
1,200,870
1,026,400
1,026,400
1,026,400
975,069
1,241,935
975,069
1,077,674
1,851,627
1,026,400
1,851,627
1,005,868
1,241,935
1,851,627
995,601
1,129,006
1,034,590
944,270
944,270
2,159,645
2,159,645

2,684,092
2,684,092
2,684,092
1,681,195
1,313,799
1,494,959
1,681,195
1,681,195
1,494,959
1,681,195
1,681,195
1,494,959
1,494,959
2,684,092
2,684,092
1,494,959
1,681,195
2,684,092
2,684,092
1,681,195
1,494,959
1,681,195
2,684,092
1,681,195
1,681,195
2,472,047
1,492,364
1,275,560
1,275,560
1,275,560
1,211,771
1,543,407
1,211,771
1,339,292
2,301,095
1,275,560
2,301,095
1,250,010
1,543,407
2,301,095
1,237,263
1,403,082
1,285,769
1,173,474
1,173,474
2,684,092
2,684,092

$604,703

$774,241

$935,820

$1,163,092

.02 The nationwide average purchase price (for use in the housing cost/income
ratio for new and existing residences) is $540,700.
SECTION 5. EFFECT ON OTHER DOCUMENTS
Rev. Proc. 2024-21 is obsolete except as provided in section 6 of this revenue
procedure.
SECTION 6. EFFECTIVE DATES
.01 Issuers may rely on this revenue procedure to determine average area purchase
price safe harbors for commitments to provide financing or issue mortgage credit
certificates that are made, or (if the purchase precedes the commitment) for residences
that are purchased, in the period that begins on April 16, 2025, and ends on the date as
of which the safe harbors contained in section 4.01 of this revenue procedure are
rendered obsolete by a new revenue procedure.
.02 Notwithstanding section 5 of this revenue procedure, issuers may continue to
rely on the average area purchase price safe harbors contained in Rev. Proc. 2024-21,
with respect to bonds sold, or for mortgage credit certificates issued with respect to
bond authority exchanged, before May 16, 2025, if the commitments to provide
financing or issue mortgage credit certificates are made on or before June 15, 2025.
.03 Except as provided in section 6.04 of this revenue procedure, issuers must use
the nationwide average purchase price limitation contained in this revenue procedure
for commitments to provide financing or issue mortgage credit certificates that are
made, or (if the purchase precedes the commitment) for residences that are purchased,
in the period that begins on April 16, 2025, and ends on the date when the nationwide
average purchase price limitation is rendered obsolete by a new revenue procedure.
19

.04 Notwithstanding sections 5 and 6.03 of this revenue procedure, issuers may
continue to rely on the nationwide average purchase price set forth in Rev. Proc. 202421 with respect to bonds sold, or for mortgage credit certificates issued with respect to
bond authority exchanged, before May 16, 2025, if the commitments to provide
financing or issue mortgage credit certificates are made on or before June 15, 2025.
SECTION 7. PRIOR COMMENTS RECEIVED
In Section 7 of Rev. Proc. 2024-21, the Treasury Department and the Internal
Revenue Service (IRS) requested comments for alternate data sources to calculate
average area purchase prices. The Treasury Department and the IRS have reviewed
all received comments and have determined that no changes to the data or the
methodology for calculating average area purchase prices will be made.
SECTION 8. PAPERWORK REDUCTION ACT
The collection of information contained in this revenue procedure has been reviewed
and approved by the Office of Management and Budget in accordance with the
Paperwork Reduction Act (44 U.S.C. 3507) under control number 1545-1877.
An agency may not conduct or sponsor, and a person is not required to respond to,
a collection of information unless the collection of information displays a valid OMB
control number.
Section 3.03 of this revenue procedure contains a collection of information
requirement. The purpose of the collection of information is to verify the applicable FHA
loan limit that issuers of qualified mortgage bonds and qualified mortgage certificates
have used to calculate the average area purchase price for a given MSA for purposes of
§§ 143(e) and 25(c). The collection of information is required to obtain the benefit of
20

using revisions to FHA loan limits to determine average area purchase prices. The
likely respondents are state and local governments.
The estimated total annual reporting and/or recordkeeping burden is: 15 hours.
The estimated annual burden per respondent and/or recordkeeper: 15 minutes.
The estimated number of respondents and/or recordkeepers: 60.
Books or records relating to a collection of information must be retained as long as
their contents may become material in the administration of any internal revenue law.
Generally, tax returns and tax return information are confidential, as required by 26
U.S.C. 6103.
SECTION 9. DRAFTING INFORMATION
The principal authors of this revenue procedure are Zoran Stojanovic and Elena
Hildebrandt of the Office of Associate Chief Counsel (Financial Institutions & Products).
For further information regarding this revenue procedure contact Ms. Hildebrandt at
(202) 317-4565 (not a toll-free number).

21

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Source: Frix Law Library, https://www.frixlaw.com/law-library/documents/agency%3Airs%3A92735bebeeb7e4e6. Public record. Not legal advice.