FHA Loan Limits Are Now Officially Raised AND Down Payment Assistance Is Continued!

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Just a short post to let you know that HUD has acted faster than I have seen them do anything in the last 20 years. The higher loan limits are now official and its time for all loan officers to hit the phones to see how many people we can help. The limits are different for each county. You can find out the limit in your county by clicking on the “FHA Loan Limits” link at the top of the page. I can honestly say that I am very pleasantly surprised. I didn’t expect anything to happen on this for several months.

Wonder how it will impact the FHA Modernization Legislation. It will be very interesting to watch. I would love to hear your thoughts on it.

In addition, on March 3 the United States District Court for the Eastern District of California issued a permanent injunction to prevent HUD from discontinuing down payment assistance from non-profit groups.

With conventional financing increasingly becoming impossible above 90% loan to value, FHA is more important to mortgage originators than it has ever been!