Special offer

FHA Loan Limits in California Set to Decrease in 2009

By
Mortgage and Lending with First Priority Financial

Home buyers looking to purchase via FHA financing in Califronia need to act fast if they plan on taking advantage of the increase FHA loan limits set in the Housing & Stimulus Bill passed in 2008. That bill has set our single family limits at $729,750, but that number will be lowered to $625,500 starting in 2009. In addition to the decrease FHA will require a 3.5% down payment instead of the 3.0% that they are currently requiring. Here is a breakdown of California's 2008 & 2009 FHA Loan Limits :

FHA Loan Limits 2008

Single-Family = $729,750

Two-Family =    $934,200

Three-Family = $1,129,250

Four-Family =   $1,403,400

FHA Loan Limits in 2009

Single-Family = $625,500

Two Family =     $800,775

Three-Family =  $967,950

Four-Family =    $1,202,825

If you want to take advantage of the lower down payment and higher loan limits you need to get started NOW by sending an email to sabine@lendscape.com to complete our quick and easy FHA Scenario Adviser. Nobody in California knows FHA better than we do. The changes also apply to FHA 203K renovation loans as well. If you are looking for more info on the absolute best loan product on the market then check out the best FHA 203K resource by sending me an email to sabine@lendscape.com. Whether you choose a traditional FHA purchase loan or are looking renovate with FHA 203K; our team of Realtors, Contractors, Architects and Appraisers can ensure that you have not only a pleasant, but also a highly profitable home buying experience.

Sabine Larsen

925-406-9000

Hope you enjoyed this post, please consider to leave a comment.

 

Comments (2)

Sergio Rebollo Jr.
Real Estate TeamMates - Miami, FL

Sabine....Welcome to ActiveRain.  This is a great community to network with others as well a great place to learn from other's experiences and knowledge.  I've enjoyed it; I hope you enjoy it as well.  Congrats on your first post.

Nov 13, 2008 02:20 PM
The Trumm Team Omaha Homes for Sale, Real Estate
Keller Williams Greater Omaha - Omaha, NE

 

Welcome to ActiveRain!

If you would like a few tips on getting the most out of ActiveRain, please visit my blog Welcome to Active Rain.  It has a few simple steps of what to do now that you have joined.

If you ever have any questions, just let me know.

Troy Trumm

Nov 13, 2008 11:36 PM