Marquee Madness: FHA Loan limits
The new higher FHA loan limits for 2023 are now available:
FHA Loan limits have increased for 2023. See below with new maximum loan limits per county effective January 1st, 2023.
FHA loans might be the perfect solution based on the borrowers circumstance. See below for a brief list of benefits.
Benefits of an FHA loan:
- Lower credit scores acceptable (typically down to a 580 score)
- Minimum of 3 1/2% down payment
- Higher debt to income ratios acceptable
- Shorter waiting periods to qualify if you’ve had a previous bankruptcy or foreclosure
In summary, the new higher loan limits along with the inherent flexibility of an FHA loan will very likely allow more buyers the ability to qualify for a mortgage in 2023. Please call one of our loan officers for further details.
*Marquee Mortgage LLC, is an independent, full service broker specializing in purchase money loans, refinances and creative lending solutions.