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FHA Loan Limits Change in the Triangle 1/1/09

EDIT!  These loan limits CHANGED AGAIN on 2/24/2009.  FHA limits as of THAT date in Wake County are now back to $295,000

You better Hurry!According to the calculations done by HUD, and released in their recent Mortgagee Letter, the maximum FHA loan limits in Wake County will be $271,050 effective January 1, 2009.

If you are considering a purchase, you need to act soon, so that you can CLOSE BEFORE THE END OF THE YEAR.

Not only will the FHA loan limits be going DOWN from the current $295,000 - the amount of money needed for downpayment is going UP!

ALSO effective January 1st - the FHA downpayment goes to 3.5%! 

So Hurry Up!  Call us for more qualifying information!  Rates are low, downpayments are at their lowest point, and home prices are at the bottom!

 

11 comments • Eleanor Thorne 919-649-5057 Cary Mortgage Loans • November 10 2008 12:44PM

Comments

Eleanor, thanks for the heads up! Great pix of the dogs! Anybody's in particular?

Posted by Scott Geary Your Pennsylvania Mortgage Source (Infinity Home Mortgage Company Inc) over 3 years ago

Good info to get out there about loans Eleanor. It would help if people would buy before years end.

Posted by Kathy Knight, BROKER, ABR, CRS, GRI, SFR Wilmington NC homes and beach homes (Intracoastal Realty Corp) over 3 years ago

Hi Eleanor

Thanks for posting the information, the buyers need to act fast to take advantage of the higher FHA limits.

Good luck and success

Lou Ludwig

Posted by Lou Ludwig CRB, CRS, CIPS, GRI, SRES, TRC, e-PRO, (Ludwig & Associates) over 3 years ago

Maybe this will get the fence sitters off their behinds to act.  Great dog pics!

Posted by Connie Goodrich,CRS ABR (McKinney Realtor)Texas (Keller Williams Realty) over 3 years ago

If my dogs jumped into that much water, they would get lost. Keep the information flowing Eleanor.

Posted by Fred Chamberlin - Oak Harbor/Whidbey's #1 Experienced FHA Mortgage Consultant (Guild Mortgage Co - Oak Harbor WA) over 3 years ago

Government loans will be the way of our foreseeable future we all need to be more knowledgeable. I do like the photo.

Posted by Terry+Bonnie Westbrook Westbrook Realty Grand Rapids Forest Hills MI Real Estate (Westbrook Realty Broker-Owner) over 3 years ago

How does this make sense in this economy? 

Posted by Linda Jandura Realtor North Carolina Buyer & Seller Specialist (Raleigh Cary Realty) over 3 years ago

Thanks again for the great information.  Have a great week!!

Posted by Brian Wray (Wray Realty) over 3 years ago

Love that dog picture!  Good luck with the lending.

Posted by Georgina M. Hunter R(S) e-Pro Maui Real Estate Sales (Jim Sanders Realty Inc. - Maui) over 3 years ago

Great reminder!  I love the photo!  Says it all!

Posted by Cristal Drake, Realtor Fullerton Real Estate (Prudential California Realty) over 3 years ago

Thanks for the info Eleanor, I have feeling there is more loan regulations to come.

Posted by April Stephens Broker/Realtor - Johnston & Wake County (RE/MAX Southland II) over 3 years ago

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