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Mar 7, 2008
6
New FHA Loan Limits Released

HUD has rolled out their new FHA loan maximums. It’s not as high as we had hoped, but the increases will help us out. Locally, we saw an increase of roughly $80k for single family residences. The new limits for the Austin/RR MSA are as follows:

Single Family = $288,750
Duplex = $369,650
Triplex = $446,800
Fourplex = $555,300

You can run find the limits nationwide here.

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6 comments so far
  • Fri Mar 7, 2008 at 2.23 pm

    Every market needed this especially the beaten down ones in CA, AZ, NV, and FL. In Tucson I think the increase will really help move a lot of the properties that were just outside the old limits. It’s essentially a lubricant to loosen up all the real estate markets accross the country. I’m glad it has arrived maybe a little late but it will help for sure.

  • Fri Mar 7, 2008 at 4.38 pm

    Yes! I read about this on Jay’s blog (phoenix) and agree that it’s good news. As Realtor Michael mentioned, there are markets that will benefit more but it should sell a few homes in every market across the nation.

  • Sat Mar 8, 2008 at 3.27 am

    The increase in my region was higher than expected and should be of some help. If these limits are temporary, people need to get moving to get new loans in place.

  • Sun Mar 9, 2008 at 9.59 am

    Looks like good news, might break the market up a little

  • anonymous
    Mon Mar 10, 2008 at 8.37 am

    This is not necessarily a good thing. The gov’t is helping by creating a buyer of last resort to help with the situation we are in. I understand that liquitidy needs help right now, but the liquidity crunch is moving through almost every asset backed security class (residential, commercial, auction rate securities, municipal bonds and somewhat corporate bonds). So, until the markets have had their hickups, faced their margin calls and sold as needed for said calls, things are going to be tough.

    Worldwide confidence in our currency is already depressed due to trade imbalances, deficits and the amount of debt that is foreign held. If we pile more debt into the GSE, we risk more depression of our currency. This will mean higher priced goods and commodities and thus inflation. We are almost like an addict, and if we don’t hit a bottom, we won’t change. Things have to get bad and unwound before our economy will get better.

  • Fri May 2, 2008 at 7.23 am

    I think we need something like this in the UK, prices here are starting to depress a little, it will be an interesting few months me thinks.

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