FHA Mortage Insurance Limits Increase in Six Oregon Counties Just in Time for National Homeownership Month
Homebuyers in Multnomah, Clackamas, Columbia, Washington and Yamhill Counties can now purchase or refinance a single-family home or condo up to $314,000 with an FHA-insured mortgage. Tillamook County limits are also increasing.
PORTLAND – More homebuyers in Multnomah, Clackamas, Columbia, Washington, Yamhill and Tillamook Counties may be eligible for FHA (Federal Housing Administration) insurance on their mortgages and home improvement loans under new mortgage limits effective June 18, just in time for National Homeownership Month. The Portland area limits are also extended to the Washington State counties of Clark and Skamania.
"Throughout this month-long campaign we are taking our message of promoting and protecting homeownership to communities nationwide," said HUD Secretary Alphonso Jackson. "All Americans should have the opportunity to achieve the dream of buying a home - and once they do, we want to ensure they stay in it. Educating families about the homebuying process and helping those homeowners who may have hit a bump in the road is critical to ensuring a house remains both a home and a secure and stable investment."
This year's Homeownership Month theme - "Promoting and Protecting Homeownership" - is designed to promote first-time homebuying; to encourage both potential and current homebuyers to learn about the responsibilities that come with homeownership; and to help consumers both read and understand the fine print of a mortgage. There are 2,300 HUD-approved housing counseling programs around the country that help potential and current homeowners learn about safe loan products available through the FHA's mortgage insurance programs and other responsible lenders. To find a counseling agency near you go to www.hud.gov/offices/hsg/sfh/hcc/hcs.cfm.
To view this full article please visit www.hud.gov.
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