New FHA Loan Limits By County

By
Mortgage and Lending with The Federal Savings Bank

FHA has issues Mortgagee Letter 08-36 which covers the New Loan Limits for 2009. The new loan limits for Illinois will be:

       1 unit  2 unit  3 unit  4 unit
Cook County   IL $365,700 $468,150 $565,900 $703,250
DeKalb County   IL $365,700 $468,150 $565,900 $703,250
DuPage County   IL $365,700 $468,150 $565,900 $703,250
Grundy County   IL $365,700 $468,150 $565,900 $703,250
Kane County   IL $365,700 $468,150 $565,900 $703,250
Kendall County   IL $365,700 $468,150 $565,900 $703,250
Lake County   IL $365,700 $468,150 $565,900 $703,250
McHenry County   IL $365,700 $468,150 $565,900 $703,250
Will County   IL $365,700 $468,150 $565,900 $703,250
Boone County   IL $339,250 $434,300 $524,950 $652,400
Winnebago County   IL $339,250 $434,300 $524,950 $652,400

FHA requires properties to be owner ocupied "OO" and has changed the maximum LTV to 96.5% (3.5% downpayment) for purchases effective with all case number issued January 1, 2009 forward.  Ask me for a copy of mortgagee letter 2008-23 for details.

For more information about FHA insured loans visit the FHA & VA page of my website today!

www.GregZaccagni.com & www.MortgageAdvisor.info

 

 

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fha lending limits by county

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Greg Zaccagni

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