FHA  announced nearly every area of the country will see FHA loan limits increase in 2018.

The new rate is based on a median sale price of $210,000 in our area.  Buyers and sellers should be happy about the increased spending capacity.  A few more dollars available for FHA mortgage will help some buyers increase their home search to a slightly higher price range.  Sellers should see more buyer activity but higher mortgage limits don’t compensate for overpriced listings. Search

The new limits don’t guarantee a specific interest rate.  Mortgage interest rates fluctuate with the markets.  

What does higher loan limits impact?

The slightly higher ceiling on a FHA mortgage impacts most buyers shopping in the $270,000 to $300,000 price range.  Qualified buyers with a good size down payment will now have a few more home buying opportunities (after the 1st of the year).

Questions or you need a lender Call or Text