FHA Loan Limits To Increase In 2016

Dated: 12/12/2015

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FHA Limits 2016 Lisa Birdsong

Great news! The Federal Housing Administration (FHA) has announced that loan limits for the North Texas area will be increased from $310,000 to $334,650 in January 2016. This is an important increase and offers valuable purchasing power for home buyers, as the cost of home ownership continues to rise in Dallas-Fort Worth

As of today, the median price for actively listed 3+ bedroom homes in Plano is $405,000, in Arlington, the median list price for homes with the same criteria is $265,000 and in Lewisville it is $410,000. These prices have increased by more than 18% over prior years since the 2007 crash.

FHA loans offer buyers a great incentive to purchase with as little down payment as 3.5%. If you'd like more information on loan programs and terms available, contact Will Austin with Prime Lending today. If you'd like more information on homes available in North Texas, contact us - we're happy to help!

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Lisa Birdsong

Top 1% of Texas Real Estate Teams; McSam Realtor of the Year, 2016; Certified Residential Specialist, CRS D Best Realtor, 2016, 2017 Castle Hills Realtor Advisory Board, 2016; Windsong Ranch Real....

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