New FHA, Fannie Mae and Freddie Mac Loan Limits Announced

Today the new FHA and Fannie Mae- Freddie Mac conforming loan limits have been released by the U.S. Department of Housing and Urban Development.

Here’s a link to HUD’s site for finding the new conforming loan limits for a specific area.  Washoe County’s is now $403,750 for a single family home and Carson City is now at $398,750.  These are an increase over the previous FHA loan limit of $367,750.

Furthermore, my lender friends tell me that FHA is not what it was years ago as there is no longer a special required appraisal and the seller only has to pay the 75.00 tax service fee.  Congress is still exploring the option of reducing the required 3% down to 1½% and mortgage insurance is only .5% per month.

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About Guy Johnson

I am a licensed Nevada REALTOR® living and working in Reno, Nevada. Give me a call at 775-722-4011. My team and I will be happy to assist you with your real estate needs.
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One Response to New FHA, Fannie Mae and Freddie Mac Loan Limits Announced

  1. Avatar MikeZ says:

    Congress is still exploring the option of reducing the required 3% down to 1½%

    Unbelievable. That’s how we got into this mess in the first place.

    Apparently, no lesson was learned.

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