Great news, Sacramento home buyers. The FHA loan limits for Sacramento County have increased. The maximum limit was $362,790, and it was increased yesterday to $580,000. FHA loans are excellent tools for first-time home buyers, especially since the down payments are 2.85% of the sales price. Years ago, sellers used to balk at a buyer obtaining an FHA loan because sellers were worried that an FHA appraiser would require tons of repairs. That is no longer the case. Restrictions have relaxed, and FHA loans are easy to process.
FHA loans are also popular with home buyers because FICO scores do not apply.
Here are the new mortgage limits for FHA loans in our five-county area:
Sacramento County: $580,000
Yolo County: $580,000
Placer County: $580,000
Sutter County: $425,000
Yuba County: $425,000
Photo: © Elizabeth Weintraub
Read more about FHA loans.
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