Friday, March 7, 2008

FHA Loan Limits Increase

It's better, much better, than expected! The FHA has officially raised their loan limits to $729,350 for Metro DC. This allows buyers to buy more house for less down, without having to use "creative" financing options. There is a possibility that the down payment amounts may be reduced from the current required 3%, but this has not been announced at this point. I have to say I am impressed by the government and agency response to the credit crisis. This is great news for everyone!

CLICK HERE for additional and updated information.

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