Okay, so I have some more information on the new FHA loan limits as well as the new conforming loan amount for Fannie Mae.

Here is the deal:

As of March 17th the new FHA loan limits will go live.  Fannie Mae is saying that conforming loan limit for Riverside County is a little over $600,000 but they won't have new established guidelines from them until perhaps as late as June 1st. 

So basically FHA is here and live as of March 17th for the higher loan limits of up to $500,000 but we'll have to wait awhile longer to see about the new conforming limits and if qualifying is going to change or become stricter. 

It's still great news that we now can go to higher loan limits with FHA as of next week.

Chris Mulder
www.InlandEmpireLender.com
951-515-2120

 

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