Congress passed a bill to allow the higher loan limits to remain in place for an additional year.
To determine the FHA loan limits in your Georgia County, go to:
https://entp.hud.gov/idapp/html/hicostlook.cfm
The typical loan limits for Georgia are as follows:
| The Nov 18, 2011 - Dec 31, 2012 basic standard mortgage limits for FHA insured loans are: | ||||||||||
| One-family | Two-family | Three-family | Four-family | |||||||
| FHA Forward | $271,050.00 | $347,000.00 | $419,425.00 | $521,250.00 | ||||||
| HECM | $625,500.00 | |||||||||
| Fannie/Freddie | $417,000.00 | $533,850.00 | $645,300.00 | $801,950.00 |
|
Please click on the link above to check specific counties.
Sources: www.entp.hud.gov and http://www.nytimes.com/2011/12/04/realestate/jumbo-loan-limits-changed-again.html 12/5/11
Note: Some reports indicate the extension is for 2 years. According to the FHA Mortgagee Letter, it is a one year extension.
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