Well - if you were getting use to the $295,000 loan limits for FHA in Johnston County, you can kiss them GOODBYE!

According to the latest HUD Mortgagee Letters,  FHA limits in Johnston County will go to $271,050.  This change is based on the average sales price, which has gone down slightly.

This is IMPORTANT for homebuyers to know, and we need to get the word out as QUICKLY as possible!  Loans that close PRIOR to January 1, 2008 will be able to close at the $295,000 limit, and they will only need 3% down payment (investment).  After January 1, not only does the maximum loan limit go down, the amount of downpayment required is INCREASED to 3.5%!

If you have questions about FHA, VA mortgages or USDA home loan financing in Clayton, Smithfield, or anywhere else in Johnston County - please call us!