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New, Lowered FHA Loan Limits?

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MBOhio2
Established Contributor

Re: New, Lowered FHA Loan Limits?

Oh, haha, but bummer. Do you know what the gist of the email said? Was it some indication about what the FHA limits will be going to and do you have any idea whether they're consisten with what the NAR has posted on their website?

Mid-2010 Starting Scores: FAKO EQ 476 FAKO EX 506 FICO TU98 575
July 2017 Current Scores: Approx 710 (waiting for official updates)
Message 21 of 24
ShanetheMortgageMan
Super Contributor

Re: New, Lowered FHA Loan Limits?

Yeah I kind of felt that it was something that was accidentally sent out.  It was a chart for the new loan limit in each county, but it did not match up to what is on NAR's website.

Free Mortgage Advice & Pre-Approvals (FHA, VA, USDA, Fannie, Freddie, Non-Prime, Construction, Renovation/Rehab, Commercial) since 2002
Located in Southern California and lending in all 50 states
Message 22 of 24
MBOhio2
Established Contributor

Re: New, Lowered FHA Loan Limits?

I promise I'll stop asking questions after this one Smiley Happy Were the limits in that chart higher or lower than the NAR's chart???

Mid-2010 Starting Scores: FAKO EQ 476 FAKO EX 506 FICO TU98 575
July 2017 Current Scores: Approx 710 (waiting for official updates)
Message 23 of 24
ShanetheMortgageMan
Super Contributor

Re: New, Lowered FHA Loan Limits?

There were a few counties (the highest cost ones like San Francisco County, Orange County, CA, New York/White Plains, etc.) that matched identical, the other ones I just noticed were more uniform/rounded numbers, I didn't make a mental note if they were higher/lower.  I suspect it was probably also that mortgage lenders estimation on the new loan limits, but it wasn't a particularly large or well known lender, so I feel there would be a chance they received it from another source.

Free Mortgage Advice & Pre-Approvals (FHA, VA, USDA, Fannie, Freddie, Non-Prime, Construction, Renovation/Rehab, Commercial) since 2002
Located in Southern California and lending in all 50 states
Message 24 of 24
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