#fha loan limits
2015 FHA and FHA 203k Loan Limits
Effective for Case Numbers Assigned on or after January 1, 2015 through December 31, 2015
FHA loan limits for all other areas, where 115 percent of the median home price for the area is between the “floor” and “ceiling,” the loan limit shall be set at 115 percent of the median home price as determined by HUD. The list of areas where the FHA loan limits are at the “ceiling” is provided in Attachment I. The list of high cost areas where the FHA loan limits are between the “ceiling” and “floor” is provided in Attachment II. For areas not listed in either Attachment I or II, the FHA loan limits are set at the national “floor.”
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A non-occupying co-borrower that has a solid credit history, low debt and enough income to meet their needs as well as help one of their relatives can step in and boost an overall mortgage application.
For people willing to think outside the box, an FHA 203K loan can be a great alternative to a construction loan. People looking to become homeowners are often faced with the same old question: buy a new home, build a new home or buy an existing home? For most people, building a new home can be quite a challenge.
Information is subject to change without notice. This is not an offer for extension of credit or a commitment to lend.
Loans are subject to credit approval. Programs are subject to change.
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