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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!

 

Comment balloon 11 commentsEleanor Thorne • 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 10 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, SRES (Intracoastal Realty Corp) over 10 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, Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC (Ludwig & Associates) over 10 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 10 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/Whidbeynulls, #1 Experienced FHA Mortgage Consultant (Guild Mortgage Co - Oak Harbor WA) over 10 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 Re (Westbrook Realty Broker-Owner) over 10 years ago

How does this make sense in this economy? 

Posted by Linda Jandura, Realtor, North Carolina Buyer & Seller Specialist (Raleigh Cary Realty) over 10 years ago

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

Posted by Brian Wray (Wray Realty) over 10 years ago

Love that dog picture!  Good luck with the lending.

Posted by Georgie Hunter R(S) 58089, Maui Real Estate sales and lifestyle info (Hawai'i Life Real Estate Brokers) over 10 years ago

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

Posted by Cristal Drake, Realtor - Fullerton Real Estate (Prudential California Realty) over 10 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 One Realty) over 10 years ago

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