Higher Loan Limits Again With FHA Loans

Were you disappointed when the loan limits were reduced to $625,500 meaning you weren’t going to be able to get a loan for the house you wanted because it was too expensive. Well, guess what? You’re in luck because Congress just decided to raise the ceiling back on FHA (Federal Housing Administration) loans back to the $729, 750 price point. This means you can now get into that house you originally couldn’t during the last six months and with only 3.5% down. This is particularly important in areas like ours where the the price point for homes is higher than most other markets. So if you’re a first time buyer looking for your first home, and you get qualified for that higher price point, your options have expanded!

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