FHA lowers maximum loan limits for 2014

FHA/Department of HUD  has lowered maximum loan limits for single family properties to $271050 in most counties of Ohio with the exception of Delaware, Fairfield, Franklin, Hocking, Licking, Madison, Morrow, Perry, Pickaway, & Union counties. In those counties , the maximum FHA loan amount for single family property is $310,500.

This applies for all case numbers issued January 1, 2014. This does NOT apply to streamline refinances without appraisal.

With the minimum downpayment of 3.5% – this brings the maximum sale price to approximately $276,000.

 

https://entp.hud.gov/idapp/html/hicost1.cfm

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About lizschneider66

Mortgage consultant with over 18 years experience. First time buyers, move up buyers, construction, FHA/VA, Jumbo loans, investment property purchases, & refinances- I will find the solution to financing the American dream of homeownership! Subscribe to my blog and never miss any mortgage industry news.
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