The HENN Blog: Higher Education Now for Mortgage & Real Estate News

The conforming and FHA loan limits in some counties will be changing at the end of September.  The federal government temporarily increased the conforming and FHA loan limits in 2008 to help home buyers in high cost counties to obtain mortgage financing but is set to expire September 30^th. 

If congress doesn’t extend the temporary loan limits, which it doesn’t appear they will, FHA loan limits will also decrease for homes in Colorado.  Below is a chart of current FHA loan limits based on county and what they will be as of October 1^st.

If you are thinking about purchasing a home in Colorado, and if your loan amount is going to be larger than the conforming or FHA loan limits you may want to start the process now to give yourself enough time.   Also, if you are selling a home in this price range you may want to consider listing now, as there may fewer qualified buyers this fall.  While allowing the loan limits to be lowered may affect some homebuyers, it is necessary for the sustainability of FHA, Fannie, and Freddie. 

Information obtained from http://www.coloradohomesiq.com/blog/colorado-fha-loan-and-conforming-loan-limits-will-be-changing.html