27 Jan FHA Loan Limits Salt Lake County Utah
FHA Loan Limits Salt Lake County Utah
BIG news for borrowers interested in an FHA loan. HUD or the Department of House and Urban Development recently announced that FHA loan limits will increase in many parts of the country. Many areas of the country will see an increase in loan limits of 6.4 percent, effective as of January 1, 2018. For FHA loan limits Salt Lake County Utah the amount has increased from $328,900 to $356,500. For other limit amounts by county in Utah click on the following link to the HUD website.
Not all areas of the country will see an increase in limits. In 223 counties the FHA loan limits will remain unchanged. It is also interesting to note that the limits for reverse mortgages rose from $636,150 to $679,650. These limits do not vary from county to county or state to state.
The Federal Housing Finance Agency said that it will increase maximum conforming loan limits for Fannie Mae and Freddie Mac mortgages. FHA loans are different from conforming loans in the respect that there are lower FICO score requirements and smaller down payments. The loan requirements are more flexible and easier to qualify for as well. So all these benefits plus loan limits going up means that it is more easier than ever to get and FHA loan in the Salt Lake County market.
Call 801-550-1796 or email us at firstname.lastname@example.org with any questions you have about FHA loan limits Salt Lake County Utah or any other sort of mortgage related questions. Help us, Help you!