FHA Loan Limits to decrease Oct. 1, 2011 in Idaho!
Congress did not extend FHA & GSE mortgage loan limits. In Ada County, the loan limits will drop on October 1st from $303,750 down to $271,050.
How does this affect Buyers and Sellers?
Buyers: FHA usually alllows for more leanient credit and less down payment than conventional financing, so you may lose out on homes you might have qualified before October 1st!
Sellers: If your home is priced between $271,050 and $303,750, this will eliminate the ability to sell your home to buyers using FHA financing. Sellers need to find creative ways and/or provide incentives to attract Buyers to their property.
Below you will see a list of Idaho Counties that will be affected:
| County | Current FHA Loan Limit | Limit as of 10/1/2011 | Difference |
| Ada County | $303,750 | $271,050 | ($32,700) |
| Adams County | $273,750 | $271,050 | ($2,700) |
| Blaine County | $729,750 | $625,500 | ($104,250) |
| Boise County | $303,750 | $271,050 | ($32,700) |
| Canyon County | $303,750 | $271,050 | ($32,700) |
| Gem County | $303,750 | $271,050 | ($32,700) |
| Kootenai County | $286,250 | $271,050 | ($15,200) |
| Owyhee County | $303,750 | $271,050 | ($32,700) |
| Teton County | $693,750 | $625,500 | ($68,250) |
| Valley County | $462,500 | $272,550 | ($189,950 |
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