FHA Institutes New Temporary Loan Limits to Help Families Avoid Foreclosure
As part of the 2008 Economic Stimulus Package, HUD recently announced that they will be temporarily raising loan limits which will allow more people to qualify to finance their home with an FHA loan. The new act will permit FHA to insure loans on amounts up to 125% of the area median house price. The new loan limits are already in effect and last until Dec. 31 2008.
The new FHA loan limit for the Charlotte area is now $303,750. For more information on FHA loans and to read the entire article check out the link below.
FHA Loans