FHA loan limits are decreasing for most areas as of October 1st, 2011.
FHA loan limits vary based on the county.
Denver, Arapahoe, Douglas, Jefferson, Adams,
Oct 1, 2011: $368,000
Click here to look up your county
NOTE: This is not the purchase price. This is the loan amount. Let’s look an example: Denver will be at $368,000. Buyers could buy up to $380,000. After they put down 3.5% ($13300), their loan amount will be $366,700.
Remember seller concessions are still at 6% of the purchase price and can be used towards buyers closing costs, to buy down the rate or even to pay for the upfront mortgage insurance premium.
To be eligible for current loan limits, borrowers must have submitted a loan application, be under contract and have an FHA case number requested by Friday September 30th.
with compliments of Lime Tree Lending Group