FHA Loan Limits For 2017

Dated: 12/02/2016

Views: 274

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

HOMESTEAD EXEMPTIONS

It's that Time of Year Again! Homestead Exemption applications are due by April 30th!!!  It is Free to file and limits the increase of property taxes. For more information chose your.

Read More

Purple Martin Migration

Purple Martins are a fantastic little songbird. They breed in North America and winter in South America. February is the season for Purple Martins to begin to migrate through the Austin area. ;

Read More

Say Yes To Pizza Go MOD

Pizza is one of those foods that I try to avoid, not only because it's unhealthy, but usually it's just bad. Either the crust is too thick, the sauce it's too sweet, or it doesn't have enough

Read More

Some Of Our Favorite Winter Things To Do In Austin

Some Of Our Favorite Winter Things To Do In Austin !!Even though we live in Texas, we do still (sort of) have a Winter. With the temperature cooling off, a lot of Austinites are looking for fun

Read More