FHA Loan Limits for Delaware for 2012

FHA Loan Limits for Delaware for 2012

Delaware FHA Loan Limits for 2012 have been reset back to the higher loan limits

Delaware FHA Loan Limits for One Unit Single Family Homes by County:

Kent County Delaware – $376,250

New Castle County Delaware – $420,000

Sussex County Delaware – $375,000

The Delaware FHA Loan Limit was increased by the US Congress in 2008 to help both Delaware home buyers and those who were wishing to refinance their Delaware home mortgage. FHA typically is easier for most homebuyers to qualify for than a Conventional mortgage. FHA loans typically have lower FICO credit score requirements and higher loan to value (LTV) which make them the perfect choice for many borrowers and the higher loan limits open up more opportunities.

The US Congress was slow in passing the new legislation to raise the limits back up, however it passed with huge majorities in the Senate (60-39) and the House (298-121). Conventional loan limits still remain the same at $417,000., which is the loan limit for Fanne Mae Loans and Freddie Mac Loans. The loan limit increased had expired on October 1, 2011 so this was a very important bill to pass.

If you need more information on a Delaware FHA loan or would like to apply, please feel free to call 302-703-0727 and a local mortgage consultant can assist you. You can also APPLY ONLINE.

John R. Thomas
Certified Mortgage Planner - NMLS 38783
Primary Residential Mortgage
248 E Chestnut Hill Rd
Newark, DE 19713
302-703-0727 Office
APPLY ONLINE for Delaware Mortgage