Monday, June 20, 2011

FHA Loan Limits Are Set To Decline In Many High Cost Areas

Barring Congressional action, FHA, Fannie Mae, and Freddie Mac high-cost area loan limits will decline to $625,500 beginning Oct. 1, 2011. The National Association of Realtors and California Association of Realtors have been urging Congress to extend or make permanent the current $729,750 FHA loan limit in high-cost areas. If congress decides to allow this decline it may cause homes currently valued above $655,000 to significantly decline in value. At minimum, it will make many of these homes much more difficult to sell, by reducing the number of qualified buyers.

This article was provided to you by the Surf City Kahunas of Real Estate and it also
Includes data taken from the NAR Newsletter.

The Louison Team, Raymond and Stephanie Louison
714-925-5361 or 714-307-2934
Realty One Group - Huntington Beach Office - 01270836 & 01229689
All information deemed reliable, however not guaranteed!

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