Congress Restores FHA Loan Limits

Congress Restores FHA Loan Limits

In an effort to sustain what progress has been achieved in the housing market across the country Congress voted last week to restore loan limits and the maximum cap for Federal Housing Authority (FHA) loans. Their action reinstates the loan limit of 125 percent of area median price, up to $729,750. Higher loan limits will make mortgages more accessible—in fact, nearly two-thirds of buyers who will be helped by the loan limits extension have income below $100,000.  If you haven't purchased a home in the last three years and have money for a down payment you could possibly qualify for a FHA loan.  Now is a great time to buy a new home as many markets in WA including Yelm, Rainier, Roy, Olympia and Lacey are at rock bottom prices.  With record low interest rates and higher loan limits the time to move is NOW!   

Brandi Rademacher Headshot
Phone: 253-224-6663
Dated: November 28th 2011
Views: 5,778
About Brandi: Brandi Rademacher with RE/MAX Realty South is the Professional Realtor who other Realtors come to fo...

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