Homes in my areas are too expensive for FHA Loan Limits
By Mike Young, FHA 203k Consultant 916-758-1809 cell direct
(203kOnLine.com, covering the USA)
Homes in my areas are too expensive for FHA Loan LimitsDon't fool yourself into believing that lie. I hear this all the time. Once I heard it in Fairfield, CA where the Realtor thought FHA loan limits were only about $200,000 when it turned out they were $565,00 at that time.Today if you do an FHA loan in San Jose, CA the limits are (updated 10-27-23) SFR Duplex 3 units 4 units SAN JOSE-SUNNYVALE-SANTA CLARA, CA 41940 SANTA CLARA 085 CA $1,089,300 $1,394,775 $1,685,850 $2,095,200 What does this mean ? Simply stated you can purchase a home that might cost a million dollars, and when you apply your 3.5% down payment you fall into the FHA guideline. There are still allot of homes in ...
Comments
1