Last March, we alerted Buyers and Buyers Agents to a change in FHA lending that feels disheartening to many -- the "Anti-Flipping" rule was reinstated. This rule prevents loan applicants from getting approval for homes that have been owned for less than 90 days by the Seller.
The DFW Metroplex is benefitting from the increase for 2015 as follows:
This recent change also has served to normalize disparities within the Dalls-Fort Worth-Arlington, TX MSA... In prior years, the loan amounts varied between Collin and Rockwall counties, for example.
It is always a good policy to double check information for your specific county prior to placing an offer -- or prior to rejecting one, for that matter. Ask your favorite lender for more details about the strengths and benefits of FHA financing.
If you don't have a lender relationship and would like referrals for quality programs in your area, feel free to email us or call us at 469.645.6363. We work with great lending providers throughout Texas and would love to help you find the right match for your next purchase.