• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar

Accessibility Statement

Follow Us on FacebookFollow Us on TwitterFollow Us on InstagramFollow Us on YouTubeRSS Feed

Kimberly Howell Properties

San Antonio Real Estate

office@kimberlyhowell.com
(210) 493-6888
  • Blog
  • About Us
  • Agents
  • Buyers
    • Neighborhoods
    • Relocation Information
  • Sellers
  • Listings
    • Available Rentals
    • Homes for Sale
    • McNair Custom Homes
    • Open Houses
  • Contact
  • Rental SearchHomes for Rent
  • REALTORS®Find an Agent
  • McNair Custom HomesNew Construction
  • Property SearchHomes for Sale
You are here: Home / Archives for fhfa

fhfa

FHA Limits Restored

November 21, 2011 by khproperties Leave a Comment

Thumbs Up

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

Filed Under: Mortgages and Financing Tagged With: hud, loans, mortgages, down payment, fha loan limits, fha loans, fha, fhfa

FHA Loan Limits Drop

October 1, 2011 by khproperties Leave a Comment

HUD Building

Effective October 1, 2011, the loan limit on a FHA (government backed) mortgage on a single family home in Bexar County dropped from $332,500 to $287,500. The numbers, released by HUD and the FHFA have the potential to substantially affect the availability and affordability of mortgage credit.

FHA loans have been one of the most popular loan types in recent years, particularly for first time home buyers, due to their low downpayment requirement (currently 3.5%). The new, lower limit means that buyers will either have to come up with substantially more cash as a downpayment,or that many homes may suddenly be out of reach to many home buyers.

FHA loans have typically required a minimum of 3.5% investment by the buyer (downpayment). This means that anyone seeking to purchase a home with an FHA mortgage in Bexar County can no longer spend more than $297,927.47 on their home purchase with the minimum downpayment. ($10,427.47 downpayment and a loan of $287,500). Previously these same buyers could possibly have financed a loan on a property up to $344,559. That’s over $46,000 difference in home buying power for these types of buyers.

Alternative loan programs (non-conforming or “conventional”) require as much as 5% down before potential buyers could be eligible.

Forty two states contain counties that have been negatively impacted by these limit adjustments. San Antonio is not alone in feeling the pinch from the latest round of lending crackdowns.

What this means to you:

Buying a home: If you were considering an FHA backed mortgage, consult with your lending professional to see how these recent changes impact your specific loan situation. Adjust your home search criteria if necessary to take these new limits into consideration. Look for additional funds for downpayment that may open new finance options to you.

Selling a home: Homes priced in the $300,000-350,000 price range are most substantially affected, as the pool of financing options for potential buyers has been severely limited. Consider your price points and potential buyers. If these limits do make a difference, consider altering some of your marketing strategies to better target your new buyer pool. Be prepared for even strong buyers to struggle with some of the new regulations on the mortgage industry.

image courtesy of matturick

Filed Under: Mortgages and Financing Tagged With: fha loan limits, fha loans, fha, fhfa, hud, loans, mortgages, down payment

Primary Sidebar

Confused About The Housing Market?

Confused About The Housing Market? Lean On Your Realtor

If you’re thinking about buying or selling a home, you probably want to know what’s really happening with home prices, mortgage rates, housing supply, and more. That’s not an easy task considering how … [Read More...] about Confused About The Housing Market? Lean On Your Realtor

Homeownership Is An Investment In Your Future

Homeownership: An Investment In Your Future

There are many people thinking about buying a home, but with everything affecting the economy, some are wondering if it’s a smart decision to buy now or if it makes more sense to wait it out. As Bob Broeksmit, … [Read More...] about Homeownership: An Investment In Your Future

Ready for Homeownership?

What You Need To Know If You’re Ready For Homeownership

If you’re a young adult, you may be thinking about your goals and priorities for the months and years ahead. And if homeownership ranks high on your goal sheet, you’re in good company. Many of your peers are … [Read More...] about What You Need To Know If You’re Ready For Homeownership

Prioritizing Your Wants and Needs

Prioritizing Your Wants And Needs As A Homebuyer

There’s no denying mortgage rates are higher now than they were last year. And if you’re thinking about buying a home, this may be top of mind for you. That’s because those higher rates impact how much it costs … [Read More...] about Prioritizing Your Wants And Needs As A Homebuyer

Winter Selling Checklist

Your Winter Home Selling Checklist

As you get ready to sell your house, add these items to your to-do list. A real estate professional will also provide other helpful tips based on your specific situation. Have questions, let us … [Read More...] about Your Winter Home Selling Checklist

Search Our Site

Real Estate Topics

  • Buying a Home
  • Homeowner Tips
  • KHP News
  • Local Events
  • Local Laws
  • Miscellaneous
  • Mortgages and Financing
  • Open Houses
  • Real Estate
  • Real Estate Market
  • Renters and Landlords
  • San Antonio Places
  • Sell Your Home
  • Technology
Our real estate agents can help you with properties anywhere in Texas. If you need assistance finding agents in other parts of the country, please contact us.

Search Homes

Explore Cities

  • Alamo Heights 36 Listings
  • Bandera 385 Listings
  • Blanco 187 Listings
  • Boerne 712 Listings
  • Bulverde 419 Listings
  • Canyon Lake 465 Listings
  • Castle Hills 22 Listings
  • Castroville 94 Listings
  • Cibolo 376 Listings
  • Comfort 59 Listings
  • Converse 671 Listings
  • Fair Oaks Ranch 54 Listings
  • Floresville 238 Listings
  • Garden Ridge 11 Listings
  • Helotes 147 Listings
  • Hill Country Village 4 Listings
  • La Vernia 172 Listings
  • Lakehills 141 Listings
  • Leon Valley 23 Listings
  • Live Oak 81 Listings
  • Mico 123 Listings
  • New Braunfels 1530 Listings
  • Olmos Park 9 Listings
  • San Antonio 10789 Listings
  • Schertz 295 Listings
  • Seguin 638 Listings
  • Selma 75 Listings
  • Shavano Park 12 Listings
  • Spring Branch 422 Listings
  • Terrell Hills 17 Listings
  • Universal City 93 Listings
  • Windcrest 32 Listings
  • Hollywood Pk 2 Listings

Stay up to date with the latest from Kimberly Howell Properties.

San Antonio real estate and property information provided by Kimberly Howell Properties. Kimberly Howell Properties does not assume any liability or responsibility for the operation or content of any of the linked resources, nor for any of the interpretations, comments, graphics, or opinions contained therein. All information deemed reliable, but not guaranteed.

KJH Properties, Inc. is a licensed real estate brokerage in the State of Texas, Equal Opportunity Employer, and supporter of the Fair Housing Act.

TREC Information About Brokerage Services | TREC Consumer Protection Notice | Privacy Policy

All content © 2009-2023 Kimberly Howell Properties, unless otherwise noted.