TEAM EMPOWERMENT MORTGAGE CHATTER: July 15; FHA 2011 Loan Limits – A Call for Action for Buyers

CALL TO ACTION FOR BUYERS!!! 

FHA 2011 LOAN LIMITS

 

Federal Housing Finance Agency (FHFA) has announced Temporary High Balance Loan Limits, scheduled to expires on December 31, 2010, were extended to September 30, 2011.

This is not dictated by case number order date! You will need to have all FHA loans with current high balance loan limits FUNDED BY AUGUST 15th, 2011 to ensure enough time to get the loan insured. RPM will have additional resources dedicated to the loans that are impacted and make them a priority in insuring. We will relay any additional information provided to us.

For mortgage loans originated after September 30, 2011, revised limits will apply. The maximum limit is $625,000 for a 1-unit property in the continental United States, established under the Housing and Economic Recovery Act, and referred to by Fannie Mae as “permanent.”

Informational Material Links Below:

Loan Limits Expiration FAQs

Confirmation of Conventional Loan Limits for 2011

FHA Maximum Conforming Loan Limits

Potential to FHA Single-Family Loan Limits beginning October 1, 2011

 

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