FHA New Home Loan Limits Affect Frisco TX

by admin on January 20, 2014

Effective January 1 2014, single family homes in Frisco Texas purchased via FHA insured loan will increase its loan limits from $271,050 to $287,500.

This impacts the FHA case numbers filed after January 1 2014.

The areas affected include Frisco (within Denton and Collin counties) along with cities in the surrounding cities (Plano, Little Elm, McKinney, Allen, Prosper, Celina, Carrollton, Dallas and cities in the Dallas Fort-Worth metroplex.

What Does This Means to Frisco Texas Home Buyers and Sellers?

FHA-insured loans require a 3.5% minimum.

Previously, prior to this loan limit increase, home buyers in Frisco can purchase a home for up to $280,850 and put a minimum of 3.5% down to qualify for the $271,050 loan limit.

With this increase, the home sales price to qualify for an FHA-insured loan in Frisco is $297,500, a $16,650 increase in sales price.

 

 

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