FHA Loan Limits For 2017

Dated: December 2 2016

Views: 450

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
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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....

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