Fha Lending LimitsFinancial credit limits
Every year, the Ministry of Housing and Urban Development examines FHA lending limits for districts across the nation and compared them with average house values. Occasionally, limits are raised from one year to the next to keep pace with house rate increases. From 2017 to 2018, FHA credit limits were used in Washington State.
HUD on December 7, 2017 announces that it will increase the credit limits of the Washington FTA for 2018. These are the main changes for 2018: Base floors for most of the country's counts have been raised from $275,665 to $294,515. The changes are a reaction to the significant house prices increases that took place in 2017.
Housing prices in Washington State have been rising continuously in recent years. The Zillow property information firm reports that the average property prices of the state increased by around 10% between October 2016 and October 2017. Consequently, the FHA's credit limits for the state of Washington will be increased in 2018.
Would you like to join the programme? Bundeswohnungsverwaltung's lending programme provides unparalleled advantages, among them a small down payments of only 3.5%. The Washington FHA Lending Programme is particularly appreciated by first-time owners who do not have the resources (although not restricted to this group) to make a large down payments.
So if you are in the 2018 FHA home loans rental business, or if you only have a question about the FHA home loans limits in Washington, please get in touch with us today. Let us help you select the right credit for your specific needs.