Charlotte FHA Limits

$230,470 is Charlotte’s FHA Mortgage Limit

Yesterday, President Bush authorized the Economic Stimulus Package. In addition to the checks going out to the American public, this package permitted Jumbo loan limits for some areas of the country to be increased temporarily. Since Charlotte’s increase did not surpass the standard loan limits for jumbo loans, we did not gain any increase in the jumbo market. However, the FHA loan limits did increase for the Charlotte-Gastonia-Concord, NC-SC MSA!

Charlotte Areas with New FHA Limits 

This means that properties for sale in Mecklenburg county, Union county, Cabarras county, Gaston county, Anson county and York county now qualify for FHA mortgage loan limits up to $230,470. With the minimum 3% downpayment requirement by FHA, that means a Charlotte home currently for sale for $237,597 can be financed with FHA loan parameters with only 3% down. And until the end of March, we still have access to down payment assistance for Charlotte FHA loans, so you could end up with a new home with no money down!

This opens up a new window of opportunity for Charlotte home buyers that should be considered. FHA mortgage loans are not credit score driven and in many cases the low FHA mortgage insurance can save a home buyer a lot of money! And with great Charlotte FHA mortgage rates, today’s home buyer really needs to look into getting pre-approved for a Charlotte FHA mortgage!

To get pre-qualified for a Charlotte FHA mortgage,
call 877-411-9327 or Apply Online Now.