2010 Maximum FHA Mortgage Loan in Southington CT

What is the Maximum FHA Mortgage Loan in Southington, CT.

The maximum FHA Mortgage Loans is different for each county and also for a 1, 2, 3 or 4 family/unit house.  So here are the current maximum FHA Mortgage Loan limits for Southington

 Single Family Home $440,000

Two Unit Home $563,250

Three Unit Home $680,850

4 Unit Home $846,150

The loan limits are similar in Middlesex and Tolland County.  They are lower in Litchfield, New London, New Haven and Windham Counties.  The loan limits are higher in Fairfield County. 

Southington Maximum FHA Mortgage Loan

What is an FHA Mortgage?

An FHA Mortgage loan is a loan that is insured by the Federal Housing Administration (FHA). FHA does not actually provide the loan; it insures the mortgage for the lender. Should the borrower on an FHA mortgage default the lender may receive payment from FHA for their losses. This insurance coverage reduces the lenders risk and makes them more able or likely to offer a borrower a loan.

An FHA mortgage loan may be for the purchase of a home in Southington, CT that the borrower plans to live in, or the refinance of a home they already live in. FHA mortgage loans are available to borrowers in Southington, regardless of whether they have owned a property before. You don't need to be a first time homebuyer in order to qualify.

Need an FHA Mortgage Loan or you would like to discuss your options?

Call me at (860) 306-8029 or send me an email to schedule a no obligation consultation. I'll help you determine whether or not an FHA loan is right for your Southington home purchase. If not, we'll look at other programs and how they may benefit you more.

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As quoted in the New York Times "A Little-Known Loan Program", and in the Hartford Courant "Moving In:Couple Combining Households Buys In Newington" and "Moving In... New Britain"

 

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Comment balloon 6 commentsJon Sigler • May 19 2010 10:22PM

Comments

Thanks for your email on my post! 

BTW - I see what you're doing here with your posts to boost your SEO!  Nice:)

Posted by Loan Survivor Real Estate Financing Expert (Purchases, First Time Buyers, Pre-Approvals, Refinance) over 8 years ago

Drew,  Congrats on your Feature!  Trying some stuff here with these post to see how they help.

Posted by Jon Sigler, South Windsor Homes for Sale 860-306-8029 (Keller Williams - Greater Hartford) over 8 years ago

Quick observation - the yellow type over the green houses doesn't show well. The red & orange are good.  I'd also spell out CT.  Most people on Google probably would.  You may also want to highlight the counties you mention so they hit SEO also.

Posted by Loan Survivor Real Estate Financing Expert (Purchases, First Time Buyers, Pre-Approvals, Refinance) over 8 years ago

Drew, thank you for the suggestions.  They are very good.  I didn't highlight the counties since I was specifically targeting towns with these areticles.  You and I know the loans limits are by county but our borrowers may not.  I have plans for county specific posts as a part of this group of posts as well.

Posted by Jon Sigler, South Windsor Homes for Sale 860-306-8029 (Keller Williams - Greater Hartford) over 8 years ago

What do you do with the condos, in Southington, that don't qualify for FHA?  Yet, most of the current owners do have CHFA or FHA mortgages.  Are these condo's now, not saleable??

Posted by Frances C. Rokicki, Broker-Mentor,CRS (Fran Rokicki Realty, LLC) over 8 years ago

Frances, The changes to the FHA rules on condo's are certainly a challenge.  Ultimately they could be unfundable, but not unsaleable. The FHA rule changes ultimatly make a condo development more stable, a better investment for a buyer.  In the long term it is best to learn what makes the complex unapprovable and work to resolving that.  Maybe they need to increase reserves, maybe resolve litigation, etc.  Short term I would look to non-FHA financing.  What is the complex and what is the challenge you have heard as to why it can not be FHA approved?

 

Posted by Jon Sigler, South Windsor Homes for Sale 860-306-8029 (Keller Williams - Greater Hartford) over 8 years ago

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