Impact of October 1 reduction of FHA loan limits


Impact of October 1 reduction of FHA loan limits
By Scott Rogers • September 29, 2011
Come October 1, 2011 the loan limits for FHA mortgages will be reduced in many parts of the country. Some would have you believe this will be disastrous for the housing market.... But will there really be that much of an impact on the housing market because of these new loan limits? Alan Zibel at the Wall Street Journal explores this, wondering whether the changes really matter.... Beyond the possibility that these changes might not even matter much nationally, it's also important to note that.... Only 2% of FHA borrowers in Virginia would be affected. Of the 39,055 FHA loans issued during 2010, only 909 of these loans (2%) would no longer be issued based on adjusted loan limits in various areas in Virginia. (source) The FHA loan limits are not changing in Harrisonburg and Rockingham County. The current FHA loan limit for Harrisonburg and Rockingham County is $277,150 for a single family home. Look up the loan limits in your local area by clicking here. Receive Updates by Email Recent Articles: There Are Plenty Of Types Of Houses That Exist That Just Are Not Available To Purchase Home Sales By Price Range In The City Of Harrisonburg Are You Compromising On Aspects Of Your Next Home That You Can Or Cannot Change Later? How Much Slower Are The Winter Months In Our Local Housing Market? Rockingham County and New Home Sales Drive Surge in Area Housing Market Find The Balance Between Optimistic And Realistic Home Pricing Room Size Is Difficult To Understand Solely From Real Estate Photos How Much Would You Value Not Having To Prepare Your Home For Showings? One Out Of Four Homes Is Taking Longer Than A Month To Sell Consider The Cost Of Your Planned Renovations When Planning Your Offer
Have any questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com
Based on information from the Harrisonburg-Rockingham Association of REALTORS® or its MLS, for the period Jan 1, 2000 through Nov 21, 2024 (unless otherwise noted).
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