One of my lenders contacted me yesterday with this information...this is GREAT news for buyers wanting or needing to get into a home with low down payment. If you need additional information on this please feel free to contact me via e-mail or phone...or contact Winsor Cooper, Senior Loan officer with Mortgage One Group @ 702.228.3275.
"I just wanted to bring you a breaking news bulletin that HUD has officially raised the FHA loan limit for Clark County 1 unit properties from $304,000 to $400,000. This should really help out your borrower trying to qualify for homes especially now since conventional financing has now dropped to 90% max LTV due to MI underwriting with the declining market conditions."
Las Vegas REALTOR® specializing in representing clients with homes for sale, single-family residences, income property. I work all of Las Vegas, North Las Vegas, Green Valley, Henderson, & Summerlin
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Mary,
Clark County made out better than Pima County, Arizona!
Mike in Tucson
It was good news for my area too... nice job in letting buyers know
Best wishes to your community. Perhaps some of the buyers will now feel a little more comfortable about getting off the fence.