FHA Loan Limits For 2017

FHA Loan Limits For 2017

FHA limits have increased to address the increase in price the median sales price in Austin and its surrounding areas. The 2017 loam limits will be as follows: 

Single family: $361,100  -   Duplex: $462,250 - Triplex: $558,750  -  Fourplex: $694,400


The benefits of an FHA loan include: 

  • 1)      Low 3.5% down payment

  • 2)      Great interest rates (depending on credit score could be lower that conventional rates)

  • 3)      More lenient debt-to-income ratio guidelines

  • 4)      More lenient credit and underwriting guidelines 

 

The challenge in this market is to have a buyer with an FHA be the offer accepted when there is a multiple-offer-situation since an offer that has 20% down seems like a stronger offer to sellers and agents. Having said this, closings with FHA loans still abound in this market so there should not be a reason to get discouraged. It is a great product. 

 

Credit: Silvia Ward Carden I Loan Officer I NMLS# 217202 I (512) 592-5455 I silvia.ward@ulmtg.com I www.silviaward.com


Check out my newest listing http://condoforsalein78704.com/    

Remodeled condo featuring granite counter tops, recently replaced two-panel-windows, water heater, light fixtures and flooring.Gated community with in-ground pool. HOA covers water, trash, insurance, exterior maintenance and Google fiber. Minutes away from Soco and St. Edward's University. Contact owner/agent Marcela Alfonsin for further information or to schedule a showing today.  
  

                
Marcela Alfonsin The Americas Properties at Team Price (512) 300-7406
marcela@theamericasproperties.com
http://marcelaalfonsin.com


Marcela Alfonsin Headshot
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Phone: 512-300-7406
Dated: December 2nd 2016
Views: 203
About Marcela: Born and raised in Argentina, Marcela is calling Austin "home" since 2004. She is versatile and mult...

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