FHA Loan Limits

Congress reinstated higher loan limits for FHA loans last week, however, this news is not the good news it seems to be for the Atlanta market. Several months ago, FHA loan limits were reduced by about $25,000 in metro-Atlanta. Congress has not returned these loan limits to the previous level, rather they approved legislation that allows for higher loan limits in certain “high-cost” areas of the country. In cities like San Francisco and New York, the loan limits are allowed to go as high as $729,750 for another two years. This is great news for these high-cost areas but is of no benefit to the metro-Atlanta area where the single-family FHA loan limit remains $320,850.

 

 

November 22, 2011 by · Leave a Comment

About James

James A. Williamson is currently the Sr VP of Sales Development for Shelter Lending Services (formerly Fairfield Mortgage). James joined Shelter in 1994 and was the company's top Loan Officer in GA for 20 straight years helping over 2500 families finance their homes. James now oversees an incredible group of Loan Officers in Atlanta while further building Shelter's Atlanta business.

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