If you are planning on buying a home in Central Florida, the good news is that FHA has increased its loan limits and we have the actual numbers as of last Thursday.
So, basically, if you are planning to buy a home in Orange or Seminole counties, your Buyer can get an FHA loan for up to $353,750. Woo hoo!
What this means to SELLERS:
Sell a home with near-100% financing (almost 3% down)
FHA allows the Seller to pay up to 6% towards buyers closing costs and pre-paid items (This isn't necessarily good news for Sellers that are not committed to selling...)
It may be in your best interest to pay for a home inspection AND a WDO (Wood-Destroying Organism) inspection so that you can have your house in top shape to capture the few ready, willing, and ABLE Buyers
Your home must be in the under $350,000-ish price range to qualify
WELCOME BACK, FHA LOANS! (Not that they ever went away, we just had other loans that mimicked them that seemed as good.)
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