Great news, the new max FHA loan amount for the Houston, Texas area is now $295,550. This is for 1 unit properties, so regular homes. The Houston Area consists of Harris, Fort Bend, Montgomery, Galveston, Brazoria, Wealler, Liverty and Chambers County. This is a large increase from the previous max FHA loan amount of $272,550. This change goes into effect Jan 1st and is for all loans that have a new FHA case number of Jan 1st or later. So all loans started after that date are able to get the new max loan amount. For a while it just seems like the mortgage lending rules have gotten harder band harder, so this is a great change going into 2014. To find out the specific max loan amount for your area check out HUD’s website: FHA Loan Amounts. Thou keep in mind the website may not show the new max loan amount until after Jan 1st.
Let’s have a Great Lending Year in 2014!!