Tuesday, March 3, 2009

FHA Mortgage Limits Raised Again

The new stimulus act has raised the FHA loan limits again. The new 1-family limit for the Metro Denver area is $406,250 and the new 1-family limit for Boulder County is $460,000. The limits are higher for 2-, 3-, and 4-family properties.

The FHA loan limits have changed three times in recent months (twice up and once down). To get the current limits, go to the FHA Mortgage Limits link on the bottom of the home page of our web site. When you get to the FHA site, all you have to do is select the state from the "State" drop-down menu and then click on "Send". That will give you the current limits for every county in the state.

Here's the link for our web site:

www.mtgsupportservices.com

The link to the FHA site is at the bottom of our home page.

Remember, a relative of the borrower can LEND the down payment to the borrower with an FHA loan. If the borrower claims the new $8,000 tax credit, they can pay their relative back very shortly. There is a link to the tax credit form on our web site also.

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