Yes you can find the lending limits on the HUD website located at https://entp.hud.gov/idapp/html/hicostlook.cfm

Thu Jun 26 2008, 03:38

Yeah easy answer is yes, $271,000 and they raise them as needed for the areas. FHA isn't your only option and you should talk with a lender who has been in the business for a while and is trustworthy about your option. I was licensed as a mortgage broker in Spokane in addition to real estate so I am fairly familiar with the ins and outs and what to avoid when getting a loan. Feel free to contact us..509-362-1966

Thu May 1 2008, 17:02

Hi Alena, that's a great question. Everyone pretty well answered it, maximum of $271K, with seller contributions up to 6% (3% down payment assistance & 3% closing cost contributions) 3% minimum down payment, but this can be gifted or paid for by seller via a gifting program such as DPA (down payment assistance program) and other similar programs. Depending on how you structure your offer, such as noted above with 6% seller paid contributions, you can buy with almost nothing out of pocket. I however feel putting some money into the deal if you can is wise, that way you are typically financing less. Again this completely depends on how you structure your offer though. Get a good agent and reputable lender to help guide you in this process. I would be happy to help and or give you referals with this process, my info is located below. Best wishes and take care! Sincerely, Chris Warmuth Windermere/North Spokane, WA.

Fri Apr 25 2008, 12:50

Go to the HUD website and you can find all of the loan limits.
www.hud.gov

Give me a call if I can be of any assistance.
Ryan
888-271-2221
Community Mortgage

Thu Apr 24 2008, 13:55

Yes! The cap in the Spokane area was just raised to $271,000 loan amount . With a 3% minimum downpayment requirement, this means the purchase price can be $279,380. Any more questions please email me at cgroves@windermere.com or call me at 509-994-0047. I have great lenders who are very skilled in structuring loan packages with FHA.

Wed Apr 23 2008, 15:53

FHA limits are posted by County. Not sure where you are looking, but here are the new FHA limits
for 1 unit and 2 unit properties respectively in some counties of Colorado:

Larimer $312,500 400,050
Boulder $460,000 588,850
Broomfield $406,250 520,050
Denver/Aurora $406,250 520,050
Weld $417,500 534,450
Colo Spgs $325,000 416,050
Silverthorne $729,750 934,200

If you would like any other counties, just let me know and I'd be happy to find out for you.
Cheers,
aubrey

Wed Apr 23 2008, 09:42

you are asking the wrong people and you are the wrong person asking, this is a question for your loan officer or your bank to be asked by your customer. Legally you are not to represent any program or disclose any information on a program to your buyers. Federal Offense!!! FHA is garbage anyways. Number one foreclosed loan in the nation not to mention Mortgage Insurance. There are much better programs and if you can't find them or your customer doesn't qualify, then they shouldn't be buying.

Wed Apr 23 2008, 09:22

The FHA loan limit in Spokane is $271, as you heard before. I wanted to add: LOAN limit not the limit on the house you may buy. I'm working w/ a couple in the valley who's best loan option is FHA and they are looking to spend $350; their down payment will be $350 less $271= $79. fyi the minimum down payment for FHA is 3% of the home price. You can use a larger down payment and in some instances have the down payment paid by someone else.

Wed Apr 23 2008, 09:12

to be more specific :-)
County Name Single Family Duplex Tri-plex Four-plex
SPOKANE $271,050 $347,000 $419,400 $521,250
SPOKANE, WA (MSA)

Tue Apr 22 2008, 17:19

Here is a great site for that question

Tue Apr 22 2008, 17:17