New Increased FHA Mortgage Limits (Boston, MA)
Congratulations on all first time home buyers and 'house-hackers' on BiggerPockets!
If you haven't received the news yet, FHA has increased their loan limits for owner occupied buyers for their homes. In my experience as an agent, I know that the high purchase prices of Greater Boston area properties can be a huge deterrent to people making their first purchase but I see this as an incredible opportunity for people to get into their first property with 3-5% down payment and start reducing their costs and building equity.
How do you think this will affect the buyers' purchasing power and would it create any sort of change in our current competitive real estate market?
BOSTON-CAMBRIDGE MA SUFFOLK MA
Single Family: $688,850
Two Family: $881,850
Three Family: $1,065,950
Four Family: $1,324,750
Median Sale Price $599,000
Last Revised: 01/01/2019
Limit Year: CY2019
For a complete list of counties in Massachusetts - https://entp.hud.gov/idapp/html/hicost1.cfm
- Lien Vuong
- [email protected]
