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FHA Limits Restored

November 21, 2011 By Leave a Comment

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This just in from the National Association of REALTORS® News Desk: Congress has restored the loan limits for the FHA for two years.

Back in September we let you know that the loan limits had been reduced in over 40 states. Effective immediately, these limits have returned to the previous levels.

For San Antonio, this means that the limit of an FHA home mortgage is once again:

$337,500

The reinstated FHA loan limit should help to keep mortgages affordable and accessible. FHA morgtgages require one of the the lowest downpayment of any traditional mortgage currently on the market (3.5%) and their presence in the market is critical as we work towards a housing market recovery.

If you have questions about FHA loans, contact a professional REALTOR® or mortgage broker for specifics.

image courtesy of krissen

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