Atlanta FHA Loan Limit Increased

On March 5th, 2008, HUD published their new loan limit guidelines based on the recently passed economic stimulus package.  These new limits will be in effect through the end of 2008, at which time legislators will decide whether to extend the new limits.  The metro Atlanta Area maximum FHA loan amount is now set at $346,250.  This excellent news comes at a great time - just as many of the sub-prime and high loan to value loan programs are being discontinued.

If you are putting down the FHA standard 3%, this means that the purchase price that you are looking for (including any seller’s contributions) is  $356,900.  Keep this in mind when you are making an offer.