FHA loan limit increase in Dare County
Published November 8, 2007 by Shane CookWe have just been notified that on 11/13 the FHA loan limit for Dare County is going to go up from $200,160 to $327,750. This is excellent news because before the FHA loan limit was too low for our purchase prices and had become obsolete. This change will open the door for clients to purchase in Dare County that could not previously qualify to purchase a home. FHA requires 3% down, but the 3% down can be a gift, and they only have to have 585 scores, whereas conventional loans require 620 credit scores or higher. FHA is also an excellent loan for cosigners and clients that have not established a credit score yet. First Horizon is licensed for FHA loans and has been closing them in Dare County for over 12 years now. Please call me with any questions.
Shane Cook
Senior Mortgage Specialist
First Horizon Home Loans
(Office) 800-256-7887
(Cell) 252-207-2665
(Fax) 866-669-5871
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