FHA Loan Limits

FHA loans are great products, but often misunderstood. They took a beating in the recent real estate run up because their caps were low enough that many real estate markets were to expensive for borrowers to get the loans. For instance, you could only borrow $356,000 or so in California for a home loan. With an incredibly expensive real estate market, this essentially meant you could afford to buy a small closet or perhaps bathroom. Well, prices are coming back down, which means the loans are becoming an option for more buyers. Check them out in your area.