Great news friends – buyers in the DFW metroplex (and surrounding areas) will see increased purchasing power thanks to FHA’s decision to increase loan limits beginning in January 2014. Currently the maximum loan amount for the DFW area is $271,050. With a 3.5% down payment (FHA’s minimum down payment requirement) this yields a purchase price of $280,880. However, HUD’s Mortgagee Letter 2013-43 released 12/6 states, as of January 1, 2014 buyers will be able to purchase a $297,900 home using FHA’s minimum down payment loan. That’s an increase of $17,000+ in purchasing power.
This is more GREAT news for our local real estate community – confirmation that DFW Rocks!
Use this link to search your specific county loan limit (remember to change the year to 2014) – Search FHA Loan Limits
For more info on this and all things mortgage and real estate related be sure to tune in to Real Time Real Estate DFW with Cole Saturdays @ 1pm on KWRD 100.7fm the Word (you can also listen online here Listen to Cole Online!
According To Cole 