Starting in January, 2014, the FHA, Federal Housing Administration, will be lowering the loan limit on maximum amounts of loans especially in high cost areas. The standard of $417,000 will remain standard across the board but in high-cost areas of California, Florida and New York, these loan limits will be decreasing. Generally speaking, the high cost limit was at $729,000 and starting in January it will decrease to $625,000. This…