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)
Showing posts with label "FHA". Show all posts
Showing posts with label "FHA". Show all posts
Friday, August 19, 2011
Tuesday, July 26, 2011
Did You Know? FHA Allows Bridal Registry Accounts
FHA allows for couples getting married to set up a Bridal Registry Account. The intent is to give couples planning to get married the opportunity to amass monetary gifts from friends and family for the specific purpose of making the down payment on a home.
Just like registering at a specialty or department store, the FHA Bridal Registry program allows you to register with a lender. Then your friends and family are able to make gift payments into an interest bearing account on your behalf. These gifts can be given with the assurance that the donors are providing the couples or individuals with an opportunity to purchase their first home.
Contact your local lender for more details. Click the following link to find out more about homes in your neighborhood
Just like registering at a specialty or department store, the FHA Bridal Registry program allows you to register with a lender. Then your friends and family are able to make gift payments into an interest bearing account on your behalf. These gifts can be given with the assurance that the donors are providing the couples or individuals with an opportunity to purchase their first home.
Contact your local lender for more details. Click the following link to find out more about homes in your neighborhood
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