2014 FHA Loan Limits

HUD has announced the FHA loan limits for 2014. Many Washington state counties have had their loan limits reduced from 2013 levels. The limits are become effective for loans with case numbered issued on or after January 1, 2014. Case numbers can be ordered in December with closings in 2014 and still maintain the higher 2013 loan limits.

If you (or your clients if you are a real estate professional) are purchasing or refinancing with an FHA mortgage that exceeds 2014 limits, make it a priority to confirm with your mortgage originator that your case number has been ordered or will be ordered ASAP. My team is happy to help wherever possible.

King, Jefferson, San Juan, Whatcom, Thurston, Pierce, Snohomish, Island, Skagit, Kittitas, Clark, Skamanie and Mason Counties will have the largest reductions in loan limits. To view the limits in your county, visit HUD.gov or FHA.com.

Positive News! (video update)

With all of the negative headlines out there, I thought I’d share highlight some positive news this week.  The Pending Home Sales Index, a forward-looking indicator, rose over 10%.  FHA has extended condominium project approvals that were previously due to expire on December 7, 2010.  To look up condo expiration dates in your area use this site: https://entp.hud.gov/idapp/html/condlook.cfmVideo Update 12/14

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