Keller Williams Realty
https://www.buyhomesincharleston.com/blog/fha-drops-the-maximum-loan-amount.html

*** FHA Drops The Maximum Loan Amount! ***

Posted By: Alan Donald In: Mortgages
Date: Wed, Jan 22nd 2014 4:50 pm

*** FHA MORTGAGE LOAN LIMITS CHANGE ***

Thinking of buying your first home in the Charleston, SC area?

The new single-family FHA (Federal Housing Administration) loan limit for the Charleston, SC Tri-County area is $308,200, down from $335,000. This amount should still be sufficient to purchase an average home in most areas of the city, as the mean home price in the Charleston SC MLS area is $206,500. 

This change is the result of FHA using 115% of the area median income instead of 125% as in the past. The new limit will apply to all new case files opened in 2014. 

For more information about getting a mortgage loan, please fill out this form, or give us a call on 843-900-0155. 

Search homes under $300,000 in the Charleston, SC metro area.