Be prepared the:
FHA LOAN LIMITS are DECREASING on January 1, 2014 in CHARLES, CALVERT and ST MARY'S COUNTY MARYLAND
Southern Maryland is not the only area impacted by the FHA Loan Limit changes. In many areas the Loan Limits are going down.
County Current Loan Limit 2014 Loan Limit
Charles $729,750 $625,500
Calvert $729,750 $625,500
St Mary’s $400,000 $347,300
What does this mean for you the Home Seller or Home Buyer?
For the Home Seller you may start to see a smaller pool of Home Buyers!
For the Home Buyer it may mean less homes are available to you for a regular FHA Loan. You may no longer qualify for the Sales Price you were previously considering, or you may have to change your loan to a FHA Jumbo Loan, or Conventional Loan, which may require larger down payments and higher interest rates.
CONTACT A LENDER NOW!
I am qualified to help YOU buy or sell your home, or real estate investment. YOU need a Buyer’s Agent, or Listing Agent, to represent YOU.
ASK A QUESTION HERE RealEstate@MargaretC.com
CALL or TEXT 301 481 8407 for a FREE Consultation
I am a Century 21 New Millennium Real Estate Agent. Ask for MARGARET C.
I welcome your REFERRALS in Lexington Park, Great Mills, California, Hollywood, Leonardtown, Mechanicsville, PAX River, and all St Mary’s, Calvert and Charles Counties MARYLAND
This blog is for informational purposes only and is not intended as legal or tax advice. An Attorney, CPA, Loan Officer or other specialist should be consulted for specific needs.