Bonita Springs FHA Loan Limits
If you are a buyer of Bonita Springs real estate and you qualify for a conventional mortgage, you are fortunate enough to be escaping some of the side effects of our recent economic woes. Perhaps, through your investment brokerage you are able to obtain financing and if that works for you, you’re set. If not read on.
There are others looking for financing that fit programs through FHA, the Federal Housing Administration.
Lending guidelines vary from county to county, state to state. If you’re wondering what the maximum loan amounts are in your area, here is a mouthful of the explanation of the limits from the US Department of Housing and Urban Development:
“The Economic Stimulus Act of 2008 permits FHA to insure loans on amounts up to 125 percent of the area median house price, when that amount is between the national minimum ($271,050) and maximum ($729,750). The new minimum and maximum loan limits are based on 65 percent and 175 percent of the conforming loan limits for Government-Sponsored Enterprises in 2008, which is $417,000.”
If you’re not in Lee County, Collier County and want to find out what the maximum is in your county just go over to the HUD site.
Specifically regarding Collier and Lee in Florida – the limit in Lee is $356,250 and in Collier $531,250.
For any other information about obtaining FHA loans in Bonita Springs, Lee County or Collier County, just give me a call at 561-282-7406 or email me at MailTo:Marc@KnightlinesMTG.com
Marc J Blasi – Mortgage Broker
Licensed Mortgage Broker in Florida
Tags: Bonita Springs, collier, Collier County, conventional mortgage, county, fha, fha financing, finance, florida, lee, lee county, lender, loan, Mortgage, mortgage broker
