Hello everyone, here's some news on the new lending loan limits I thought might be worth sharing.
Unless Congress makes a last minute change here’s what to expect this October 1st.
Click Here for 2011 Counties At And Above Loan Limit Ceiling
Click Here for 2011 Counties Between Loan Limit Ceiling
FHA LOANS
Please refer to the attached charts to see the new limits by county.
CONVENTIONAL LOANS
The “standard-agency” loan limits are not changing:
• 1 Family: $417,000
• 2 Family: $533,850
• 3 Family: $645,300
• 4 Family: $801,950
The “high balance” loan limits are dropping from $729,750 (single family) to:
• 1 Family: $625,500
• 2 Family: $800,775
• 3 Family: $967,950
• 4 Family: $1,202,925
FNMA uses the FHA chart to determine what county is eligible for high–balance (see attached charts)
To determine if a property is eligible for conventional “high balance” you need to look at the FHA County list.
Hope this helps you understand the changes and as always please call or email us with any questions regarding a specific situation.
Thanks!
Unless Congress makes a last minute change here’s what to expect this October 1st.
Click Here for 2011 Counties At And Above Loan Limit Ceiling
Click Here for 2011 Counties Between Loan Limit Ceiling
FHA LOANS
Please refer to the attached charts to see the new limits by county.
CONVENTIONAL LOANS
The “standard-agency” loan limits are not changing:
• 1 Family: $417,000
• 2 Family: $533,850
• 3 Family: $645,300
• 4 Family: $801,950
The “high balance” loan limits are dropping from $729,750 (single family) to:
• 1 Family: $625,500
• 2 Family: $800,775
• 3 Family: $967,950
• 4 Family: $1,202,925
FNMA uses the FHA chart to determine what county is eligible for high–balance (see attached charts)
To determine if a property is eligible for conventional “high balance” you need to look at the FHA County list.
Hope this helps you understand the changes and as always please call or email us with any questions regarding a specific situation.
Thanks!
No comments:
Post a Comment