The FHA loan limit is going up in 2018 to $294,515 in many counties.
What does this mean to you?
It means you can purchase a home up to $305,197 with just 3.5% down payment if you have less than perfect credit.
This is an increase of 5.4% from 2017.
You can purchase a little more expensive home in 2018 with a FHA loan than you could in 2017. FHA loans may be a better choice for borrowers with lower credit scores. FHA loans, however, can be expensive as they have 2 types of mortgage insurance, both up-front and monthly
and you pay them both for the life of the loan.
Contact us and we can help you determine if the FHA loan
and its increased limit is right for you.
We offer a variety product services, ask us how we can assist you today:
Counsel Mortgage Group®, LLC
AZ MB #0909580
CA DBO #60DBO43873
John Rapasky is the President of the Counsel Mortgage Group, LLC. Copyright © 2017 Counsel Mortgage Group®, LLC.