Hojin's SW Orlando Real Estate Scoop

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FHA Increases Loan Limits in Orange, Seminole, & Osceola Counties

August 24th, 2007 · No Comments

The limit for FHA loans increased today to $268,850 in Orange, Seminole, and Osceola Counties. Since FHA loans are insured by the US Department of Housing and Urban Development agency, it allows buyers to get into a home with a down payment as little as 3%, lower closing costs, and makes it easier to qualify for the loan. If the down payment is still a problem HUD has local down payment assistance programs. To find out more about obtaining a FHA loan you can visit the FHA homepage for more details. This loan program has always been very popular with first time home buyers since it requires very little cash up front and much of the cash required can be a gift from either your relatives or a local government program such as HANDS of Central Florida who assist with finding a down payment.

Tags: Mortgages