Florida FHA Loan Limits are going DOWN for 2009

By
Mortgage and Lending with Chris Brown | Certified Mortgage Planners NMLS 303797

It is important for Florida Home buyers to know that Florida FHA loan limits are going down for 2009. For 2008 Seminole County loan limits, it is a HUGE drop. The new loan limits per county are as follows:

2009 FHA Limits – Florida All areas except those counties listed below:

One-Unit $271,050

Two-Unit $347,000

Three-Unit $419,400

Four-Unit $521,250

Monroe County 28580 FL $529,000 $677,200 $818,600 $1,017,300

Collier County 34940 FL $448,500 $574,150 $694,000 $862,500

Broward County 33100 FL $345,000 $441,650 $533,850 $663,450

Miami-Dade County 33100 FL $345,000 $441,650 $533,850 $663,450

Palm Beach County 33100 FL $345,000 $441,650 $533,850 $663,450

Walton County 99999 FL $325,450 $416,600 $503,600 $625,850

Martin County 38940 FL $316,250 $404,850 $489,350 $608,150

St. Lucie County 38940 FL $316,250 $404,850 $489,350 $608,150

Baker County 27260 FL $304,750 $390,100 $471,550 $586,050

Clay County 27260 FL $304,750 $390,100 $471,550 $586,050

Duval County 27260 FL $304,750 $390,100 $471,550 $586,050

Nassau County 27260 FL $304,750 $390,100 $471,550 $586,050

St. Johns County 27260 FL $304,750 $390,100 $471,550 $586,050

Manatee County 14600 FL $285,200 $365,100 $441,300 $548,450

Sarasota County 14600 FL $285,200 $365,100 $441,300 $548,450

Lake County 36740 FL $274,850 $351,850 $425,300 $528,550

Orange County 36740 FL $274,850 $351,850 $425,300 $528,550

I think Seminole should get super special treatment. =0)

Chris Brown
All Around Good Guy
Trinity Mortgage
153 Parliament Loop
#1001
Lake Mary, Florida, 32746
Work: 407 377 0500 x 210
Chris@OrlMtgPro.com
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Topic:
Home Buying
Location:
Florida
Groups:
CMPS
Central Florida
The FHA Mortgage Group
Seminole County Florida
Florida Real Estate Investors
Tags:
fha loans
chris brown
orlando mortgages
orlando fha loans
2009 fha loan limits for florida
florida mortgages
florida real estate loan

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Rainmaker
91,655
LaShawn Norden
Keller Williams Heritage Realty - Longwood, FL
REALTOR, (321) 377-0157, Your Real Estate Advocate in Central FL

Chris~ I've been hearing rumors that the limits might not go down in January 2009. Are there any special sessions or meetings scheduled that you know of that may delay the drop in loan limits?

Nov 22, 2008 11:00 AM #1
Rainmaker
1,014,121
Rob Arnold
Sand Dollar Realty Group, Inc. - Altamonte Springs, FL
Metro Orlando Full Service - Investor Friendly & F

Interesting that the government is doing everything possible to stagnate and slow the real estate and mortgage market.  Lower the loan limits, kill Nehemiah.  All the while giving the lenders a bailout.  Makes lots of sense.

Nov 23, 2008 03:39 AM #2
Rainer
170,605
Fred Chamberlin
Guild Mortgage Co - Oak Harbor WA - Oak Harbor, WA
Oak Harbor/Whidbeynulls, #1 Experienced FHA Mortgage Consultant

Hi Chris, I would like to agree with Rob, but there is a reason for where the limits are and it is based on home sale prices. We lost over $70k in the change, but FHA is still the way to go. Good info Chris.

Nov 23, 2008 12:35 PM #3
Rainmaker
279,071
Tim Storm
Fairway Independent Mortgage Corporation - Irvine, CA
Orange County FHA and VA Home Loan Specialist

In Orange County, CA the limit is $625,500, which is actually quite a bit higher than our pre-temp limit of $362,590, but less then the temp limit of $729,750. But then again, I never did a loan higher than $620,000 and most of what I'm seeing now if no higher than $350,000. Hopefully the new limits won't effect your business too much.  -T Storm

Nov 23, 2008 05:56 PM #4
Anonymous
Florida FHA Loan Limits

Its too bad the FHA loan limits are comming down in Florida. The FHA loan program was created to help increase homeownership. The  FHA program makes buying a home easier and less expensive than other types of real estate mortgage home loan programs. Here are just some Examples of how FHA can help you buy a home,

Minimal Down Payment and Closing Costs.

  • Downpayment less than 3% of Sales Price
  • 100% Financing options available
  • No reserves or required.
  • FHA regulated closing costs.
  • Seller can credit up to 6% of sales price towards buyers costs.
  • Easier Credit Qualifying Guidelines such as:
  • No minimum FICO score or credit score requirments.
  • FHA will allow a home purchase 2 years after a Bankruptcy.
  • FHA will allow a home purchase  2 years after a Foreclosure
  • Easier Debt Ratio & Job Requirement Guidelines such as:
  • Higher Debt Ratio's than other home loan programs.
  • Less than two years on the job is allowed.
  • Self-Employed individuals o.k.


www.FHAmortgagePrograms.com

Dec 24, 2008 06:45 AM #5
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Rainmaker
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Chris Brown- Florida Home Loan Specialist | Certified Mortgage Planner

Chris Brown 407.367.2974
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