New Increased FHA Mortgage Limits (Boston, MA)

[Lien Vuong]

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