FHA loan limits have recently increased. Due to its flexible approval guidelines, the FHA loan program is a great option for first-time buyers or those with little available for a down payment.
Loan limits will vary by county, but in the DFW Metroplex, the single-unit limit has increased to $386,400. This limit also varies depending on the number of units in a property. For example, the loan limit is $494,650 for duplexes, $597,500 for triplexes, and $743,100 for quads.
As long as you occupy one of the units as a primary residence, you can structure a loan on a multi-unit property using the FHA program.
This program is a great option if you or anyone you know is looking to buy a house in 2018.
If you have any other questions, would like more information, or would like help obtaining an FHA loan, feel free to give me a call or send me an email. I look forward to hearing from you soon.