Secure FHA Loan Benefits Before 2014 Deadline: Key Changes Ahead
Secure FHA Loan Benefits Before 2014 Deadline: Key Changes Ahead
Starting in 2014, many FHA loan limits will be reduced, impacting borrowers in counties across the nation. These changes could exclude a significant number of homebuyers from qualifying for FHA financing, particularly in areas with higher home prices.
FHA Benefits at Risk if You Delay
Acting before the deadline ensures you can still take advantage of these key FHA benefits:
- Lower Down Payment: FHA loans require a smaller upfront payment compared to conventional loans.
- Flexible Credit Requirements: Borrowers with lower credit scores may still qualify.
- Gift Funds Allowed: The entire down payment can be covered by monetary gifts from family members.
Critical Deadline to Act
December 27, 2013 is the final day to secure your loan under the current terms. After this date, reduced limits will take effect, potentially limiting your eligibility.
Don’t miss this window—contact a lender today to start the process and lock in your FHA benefits before time runs out.
