FHA Loan Limits For 2017

Dated: December 2 2016

Views: 622

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
Blog author image

Marcela Alfonsin

Born and raised in Argentina, Marcela is calling Austin "home" since 2004. She is versatile and multifaceted - being fully bilingual (English-Spanish) and possessing extensive experience with national....

Latest Blog Posts

TLC Austin Oysters And More

Some weekends are better than others. I've been fortunate to have been at the beach more than once this summer and host visitors that allowed me to show them a bit of what our beautiful city of

Read More

Your Credit Score And Buying A Home

I work with amazing lenders so that I can provide my buyers with the best support system.  I know buying a home is a big decision and I am here to help.   Take a look at some news

Read More

9 Tips For Buying And Selling Your Home At The Same Time

Selling your home when you still need to shop for a new one can feel daunting to even the most seasoned homeowner––especially when the demand for new homes keeps rising, but the supply feels

Read More

Why Now Is The Best Time To Buy Your First Home

Why “Now” Is The Best Time To Buy Your First HomeAsk any real estate agent if now is a good time to buy a home. Chances are good you’ll probably get the impression that it’s the perfect time

Read More