December 6th, 2010 10:45 AM by Kathy Delbridge
HUD Announces 2011 FHA Maximum Mortgage Limits
HUD announced new Mortgage Limits for 2011, on 12/2/10 and the Metro Atlanta area remains unchanged at $346,250.
Most of the remaining counties in GA will be at the floor of $271,050. There are a couple of counties in GA with higher mortgage limits that are closer to $300,000.
To read the HUD Mortgagee Letter in it's entirety, click on the following link:
The following two links will take you to Attachments which will list the maximum mortgage limits in ALL counties within all 50 States.
This is goods that several major metropolitan areas still have relatively higher mortgage limits that in previous years.
If you or anyone you know needs assistance with obtaining FHA financing, please do not hesitate to give me a call.
FHA loans remain a valuable financing tool, especially with the added benefits of the assumability of FHA loans. Imagine you are selling your home in 5-7 years and a potential buyer has the option to assume your FHA mortgage at 4.25%, or buy another home down the street ( that does not have FHA financing) and have to go with current interest rates at the time ( assume they are at 5.5%). Which house do you think they will be more favorable to purchase ( assuming both homes are comparable)?
Something to think about.
Have a great day and feel free to post comments or questions to this post.
Kathy Delbridge 678-773-0651