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FHA NEW LOAN LIMITS - Get the facts dis-spell the myths Oct 1st 2011
 
Such important information especially for clients who are still wondering is it the right time to buy.  Well, with inventory shrinking, prices moving up and now FHA chopping a third of the loan amount off - the indicators are clear lets get an offer in on that home before it is gone.  
Call me for help Kelli Grant in finding that perfect home
 
 

 
So with all the rampant rumors and conjecture by people who just want to make noise. I have attached the correct document from FHA on the proposed loan reductions.
 
"Who cares" an agent said yesterday - well my response was "you should and here is why!"
Barring a Congressional Stay our loan amounts will be reduced Oct 1st 2011
If you have buyers on the fence wanting to buy a home on the upper reaches of financing they will not be able to after Oct 1st.  For example in Maricopa County Arizona currently the loan limit is $346,250 it will be $271,050 a drop of $75,200 in buying power!
In San Diego where I write loans it is dropping $151,250, In Monterey County it is $246,750 and Los Angeles County buying power is reduced by $104,250.
If you have clients with offers on short ... more

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