07 Apr FHA Loan Limits Summit County Utah

FHA Loan Limits Summit County Utah

Great news for borrowers interested in FHA loans in Summit County, Utah.  HUD or the Department of House and Urban Development recently announced that FHA loan limits will increase in many parts of the country.  

Most areas of the country will see an increase in loan limits of around 6.4 percent, effective as of January 1, 2019.   As far as FHA loan limits Summit County, Utah is concerned it means that the upper limit increased from $679,650 to $726,525 for a one unit residence.  For loan limits in other counties in Utah and limits for 2, 3 and 4 units, click on the following link to the HUD website.

https://entp.hud.gov/idapp/html/hicostlook.cfm

The Federal Housing Finance Agency also said that the maximums for conforming loan limits for Fannie Mae and Freddie Mac mortgages will increase.  FHA loans are different from conforming loans in that they have lower FICO score and smaller down payment requirements. There is a lot more flexibility as far as loan requirements are concerned.  This all means that it is easier than ever to get an FHA loan in Summit County.

Call  435-632-6796 or email us at z@shilozitting.com with any questions you have about FHA loan limits for Summit County Utah or any other sort of mortgage related questions.  Help us, help you!