Today’s real estate market is one of the fastest-moving in recent memory. With record-low inventory in many market segments, we’re seeing multiple offers—and sometimes even bidding wars—for
FHA Loan Limits For 2017
Dated: December 2 2016
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 email@example.com I www.silviaward.com
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Marcela Alfonsin The Americas Properties at Team Price (512) 300-7406
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....