The FHA loan limits vary from state to state and as you start the application process it is important to know the limits in your area. Over the past few years, these limits have changed a lot, as the housing market has gone through its ups and downs, and we can help you make the best decisions based on the current levels in your state and county.
A number of factors can affect the FHA limits, from the location to the type of housing (single family, duplex, etc.). While conventional mortgage limits have dropped, the limits on FHA loans have remained comparatively higher. These higher limits are available to people looking to buy a new home or to refinance their current residence. For a complete list of FHA mortage limits in your area, please visit HUD.GOV.
Currently you can buy a home with 3.5% down and borrow up to $417,000, but since these loan limits can vary by country, you need to make sure you have completely up-to-date, accurate information before submitting your application. At LoanProConnect we can help you through this process. Contact us today to learn more about your options.