Tampa Florida – It’s that time of year – the new FHA loan limits for 2009 have recently been released. It’s no surprise based on declining values for Tampa homes in 2008 that the FHA will be lowering the Tampa Bay FHA home loan limits Jan 1, 2009.

The new FHA loan limit for all Tampa homes for sale will be $271,050 in 2009 which is down from $292,000 we currently have in 2008.

If you have been thinking about buying a home in Tampa that is in the upper range of the current limits you need to be acting now.

I have been told by our Tampa mortgage lenders that to take advantage of the $292,000 loan limit, Tampa Bay home buyers need to act fast and must lock their FHA loans by Dec 10, 2008 and close on their new home (condo, townhome or other property) no later than Dec 31, 2008.

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Copyright © 2008 Jack and Cyndee Haydon, Clearwater REALTORS and your Clearwater Real Estate Consultants specializing in Clearwater Tampa Real Estate and may not be copied, reproduced, distributed, transmitted, displayed or published.

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4 Comments

  1. Good, timely info! FHA backed loans are a large percentage of financing for today’s transactions. I think FHA backed loans will require an additional 1/2 percentage point (3.5%) down payment in 2009?

  2. FHA loans are becoming the standard in our market. Almost every purchase I’ve dealt with this year was an FHA or VA loan. These programs are back on top. I agree with you, if you’re thinking of buying in the upper range of these limits you should do it this year.

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