FHA Home loans requirements 2013

The federal agency that regulates housing issues on the national level, the Department of Housing and Urban Development, announced FHA loan limits effective January 1, 2014. The limit for San Antonio, Bexar and adjacent counties will be $316, 250. This is reduction from the loan limit in 2013 of $332, 500. These amounts are for single homes. Limits for multiple same sited housing units, for example duplex and above will differ.

See the chart below to compare FHA loan limit changes in the San Antonio area from 2012 through 2014.

The HUD website shows the median sales price for a home in San Antonio is $275, 000. Below is a home that sold for $275, 000 earlier this year.

Sonoma Ranch Helotes 275 What is FHA Maximum Home Loan Amount in San Antonio 2014?

Almost 2, 600 square feet, three bedrooms, gated community, home was built in 2005. Northside ISD. It was on the market 16 days. Feeling like doing some statistics and found the smallest home selling for $275, 000 during the past year was 1, 480 square feet (Mahncke Park) and the largest home sold at that price was 3, 968 square feet (Windcrest).

Current loan limits for conventional and VA loans is $417, 000. Mortgages over that amount will require a product called a Jumbo Loan. If you are thinking of buying a home or condo or refinancing an existing loan, call me if you do not have a loan officer. I will be happy to provide a recommendation.

Atlantic Publishing Group Inc The First-Time Homeowner's Handbook: A Complete Guide and Workbook for the First-Time Home Buyer
eBooks (Atlantic Publishing Group Inc)

Um..."tens of thousands"

2007-03-21 22:35:46 by have_you_checked

What a normal year for foreclosures is? I think you mean "tens of thousands more".
NPR has a habit of going into hysterics to get listeners. The "sub prime" loans under current discussion still require a whole bunch more qualifications than the negative ammortization, no-qualification assumable loans offered by FHA in the late 70s. Remember them? Adjustable rate, started at 3-5%, at a time when prevailing rates were in the 20s. Would adjust 2% to 5% per year up, and some of them did not increase the payment...so you actually sawa your principal rise...you were deeper in debt. Then at five years BAM, you would get adjusted to the 21% cap and payments would switch to a fixed 25 year loan

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