Dan Hubrich is back with some great information on FHA loan limits and their recent changes.
FHA announced some good news this week. They are increasing the loan limits for most Utah Counties. FHA loans are great because they allow a buyer to get into the home with little or no down payment. They are also more liberal on qualifying debt ratios, and allow for a lower credit score. With Utah prices climbing, these new limits will allow more buyers to get into homes. NOTE: The purchase price can certainly be higher than these levels, but that would just mean you’d have to come to closing with the difference in a down payment. See below for the new levels for the major Utah counties and feel free to call me with additional questions.