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The Real Deal Miami

What the FHA limits mean for SF

October 05, 2011 10:58AM

In Broward and Palm Beach counties, new Federal Housing Administration
loan limits, which took effect Saturday, mean significant drops in the
ceiling for home loans. The FHA limit in the two counties has dropped
from $423,750 to $345,000, meaning for buyers who are no longer able to
use popular FHA mortgages, cash or conventional mortgages will be the
alternatives. According to Randy Bianchi, co-owner of Paradise
Properties of Florida in West Palm Beach, however, buyers are not yet
anxious about the new limits. [Sun