New FHA loan limits and an update on Down Payment Assistance programs

March 7th, 2008 - Categories: Dothan area Real Estate Market information

HUD has raised loan limits for FHA loans here in Houston County to $271,050 on single family homes (CLICK HERE for all the limits). The previous limit was $200,160.

For those of you that hadn’t heard, there are still folks in Dothan that are buying houses. One of the financing tools they are continuing to use are down payment gift programs such as Ameridream. Charles wrote a post on this a couple of months back.

The good news for home buyers is that a second federal judge has ruled that HUD violated federal law in adopting a regulation prohibiting certain seller-funded downpayment assistance. You can read all about it HERE.

As for mortgage rates, they continue to be volatile. In fact, rates have gone up twice just this week. If you have a question, or would like more information, contact me by email or phone (listed below).
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Contact Ann Bourland or Kim Kennedy at Lending Edge Mortgage at (334) 836?0963 or by email at aborland(at)edgeloans(dot)com

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