Homes in my areas are too expensive for FHA Loan Limits
By Mike Young, FHA 203k Consultant 916-758-1809
(203kOnLine.com, covering the USA)
Homes in my areas are too expensive for FHA Loan LimitsDon't fool yourself into believing that lie. I hear this all the time. Once I heard it in Fairfield, CA where the Realtor thought FHA loan limits were only about $200,000 when it turned out they were $565,00 at that time.Today if you do an FHA loan in San Jose, CA the limits are SFR Duplex 3 units 4 units SAN JOSE-SUNNYVALE-SANTA CLARA, CA 41940 SANTA CLARA 085 CA $970,800 $1,243,050 $1,502,475 $1,867,275 What does this mean ? Simply stated you can purchase a home that might cost a million dollars, and when you apply your 3.5% down payment you fall into the FHA guideline. There are still allot of homes in San Jose, or in Santa...
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