FHA Temporary Loan Limit Increase Goes Away in December

FHA increased the loan limit (temporarily) in Lane County to $343,750 as part of the stimulus package. This has opened a lot of homes to FHA loans that weren't open in the past but that new limit is only good until December 31.

We won't know what the new loan limit is until about a month before the end of the year, but it is my opinion that we will be very near the floor for FHA loans of $271,050. The actual amount will be 115% of the median sales price and from what I have been seeing, I think we will be about there.

So, if you are selling or buying in the area between $271k and $343k, now would be a good time to get it going. It is almost September, time is running out.

As always, I am available to help you in this endeavor. I am an expert in FHA financing. There are procedures that are in place to help people. Also, this new loan limit is available for refinances, 97% loan to value on a rate and term and 95% on a cash out. Take advantage of the program before it changes.

You can check other counties and states here. FHA is a great product for a huge number of people. Let me help you buy your castle!