FHA Minimum Loan Limits Set
Submitted by: Kimberly Grant, Huntsville Real Estate Agent
Huntsville/Madison AL Real Estate Blog
There have been new loan limits for FHA set. HUD has finally announced the increase in limits. The New FHA minimum loan limits effective for our area are listed below:
One Unit | $271,050 |
Two Units | $347,000 |
Three Units | $419,400 |
Four Units | $521,250 |
This is a HUGE advantage for our area. Loan limits of $271,050 is a terrific limit for our area. Just look at the average price of homes in the different areas below:
Huntsville | $166,679 |
Madison (City Limits) | $233,759 |
Madison (Outside City Limits) | $205,274 |
Athens City | $148,036 |
Limestone County | $164,501 |
Madison County | $176,810 |
Morgan County | $123,245 |
As you can see, the new loan limits will allow for many more opportunities for home buyers in our area. The new loan limits will provide more homes to be included in FHA loan programs. There are also down payment assistance programs provided by the city of Huntsville to help those buying their first home. If you are considering buying or selling a home in Huntsville or the surrounding areas. I would be happy to assist you with your real estate needs. Feel free to contact me and see what my team and I can do to help you make your next move!
Feel free to browse any of our local Homes for Sale. You can also receive home listings by email complete with descriptions and pictures. Please feel free to utilize any of the following links to Madison County real estate resources that may help you:
Realtor, Exit Leon Crawford Realty
Search Huntsville Homes for Sale
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