Delaware FHA Loan Limits as of October 2011
Delaware FHA Loan Limits for 2011
Delaware FHA loan limits are set to change for the worse on October 1, 2011. The temporary increase in FHA loan limits expires October 1, 2011. The loan limits were raised in 2008 to help stimulate the housing industry that was reeling from a recession caused by the collapse of the mortgage market.
The new FHA loan limits in Delaware are based on the median home price for each county and are as follows:
New Castle County, DE – $379,500
Kent County, DE – $271,050
Sussex County, DE – $316,250
The biggest drop that will affect most home buyers is in Kent County which will see almost $100,000 drop in Delaware FHA loan limit effective for FHA case numbers assigned on or after October 1, 2011.
If you need help with an FHA loan for the purchase or refinance of a home in Delaware, call us at 302-703-0727 or APPLY ONLINE. If you are a Delaware First Time Home Buyer then don’t forget to register for the next Free Home Buying Seminar by registering online at Delaware Home Buyer Seminar.
John R. Thomas – NMLS 38783
Certified Mortgage Planner – Primary Residential Mortgage, Inc.
302-703-0727 DE Office / 610-906-3109 PA Office / 410-412-3319 MD Office
248 E Chestnut Hill Rd, Newark, DE 19713