Portland and Vancouver Areas Get a Bump In FHA Loan Limits to $418,750

Posted on: March 06, 2008

Homebuyers, Mortgage Professionals and Real Estate Agents woke up to some exciting news this morning. FHA, the Federal Housing Administration, raised the loan limits in many counties across the United States.

What does this mean to us? More opportunity to refinance, purchase and sell homes. FHA has quickly become the savior of the subprime mortgage industry. Although they are not subprime loans, the qualification is much more relaxed than the commercially available products on the market today. FHA offers programs with as little as 3% down, including the opportunity to use a co-signer or “Non Occupant Co-borrower”.

In the Portland/Vancouver/Beaverton area the limits have been raised to the following:

One Family Dwelling $418,750

Two Family Dwelling $536,050

Three Family Dwelling $648,000

Four Family Dwelling $805,300

Lenders expect the changes to actually hit the market in the next week or two. Homeowners and buyers should immediately call us at 360-606-5223 or 503-367-1109 to get the process of qualifying started today. They can also visit our website to complete a free, secure application at www.whitewolfemortgage.com.

These limit increases are temporary in nature.

Travis Wolfe operates WhiteWolfe Mortgage in Portland, Oregon. As a local mortgage professional and real estate investor, he has been active in the real estate community since 1997.