fha: FHA loan limit increase will help some Orange County home buying
- 11/19/11 12:48 PM
President Obama on Friday signed a bill increasing the FHA loan limits nationally. Here in Orange County that will raise the FHA loan limit to $729,750. This will help those buyers buying or considering buying a home with a loan from $625,000 to $729,750. Prior to this bill, no federally backed loans greater than $625,000 were available. Almost all loans of that size were considered "jumbo" loans with higher interest rates and tougher qualifying standards. A few things to consider with the new law:
1. It only applies to FHA loans. It does not apply to Fannie Mae or Freddie … (2 comments)
President Obama on Friday signed a bill increasing the FHA loan limits nationally. Here in Orange County that will raise the FHA loan limit to $729,750. This will help those buyers buying or considering buying a home with a loan from $625,000 to $729,750. Prior to this bill, no federally backed loans greater than $625,000 were available. Almost all loans of that size were considered "jumbo" loans with higher interest rates and tougher qualifying standards. A few things to consider with the new law:
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