New FHA Cap May Aid Many Californians:...
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From Times Staff and Wire Reports
New FHA Cap May Aid Many Californians: The number of California home purchasers who could be eligible for FHA financing could increase by as much as 57% when the FHA limit is increased to $124,875 from $101,250 in selected counties early next year, according to La Jolla-based Dataquick Information Systems. Statewide, a total of 127,670 homes were bought with mortgages of $101,250 or less from January through October. A total of 200,022, or 56.7% more, were bought with mortgages of $124,875 or less.
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