Many homes under contract will not be able to close after September 30 if Congress does not act.

On September 30, the cost of a mortgage could rise significantly. If this happens, people wanting to purchase a home run the risk of being priced out of the American Dream of home ownership. Even worse, this could hold back the housing recovery.

Many homes now under contract will not be able to close and 1,300 sales per day could stall on September 30, 2011, unless Congress takes swift action to make the current FHA and GSE loan limits permanent.

Well-qualified buyers don't need another hurdle to access affordable mortgage financing.
If Congress does not act, below are examples of the loss of buying power accessible to those purchasing their home though FHA loan program.

County Current FHA Loan Limit Limit as of 10/1/2011 Difference
Atascosa County $332,500 $287,500 ($45,000)
Bandera County $332,500 $287,500 ($45,000)
Bastrop County $288,750 $271,050 ($17,700)
Bexar County $332,500 $287,500 ($45,000)
Caldwell County $288,750 $271,050 ($17,700)
Comal County $332,500 $287,500 ($45,000)
Guadalupe Co. $332,500 $287,500 ($45,000)
Hays County $288,750 $271,050 ($17,700)
Jeff Davis Co. $271,250 $271,050 ($200)
Kendall County $332,500 $287,500 ($45,000)
Medina County $332,500 $287,500 ($45,000)
Travis County $288,750 $271,050 ($17,700)
Williamson Co. $288,750 $271,050 ($17,700)
Wilson County $332,500 $287,500 ($45,000)