Increased 203k loan limits for 2023
By Mike Young, FHA 203k Consultant 828-469-7462
(203kOnLine.com, covering the USA)
SF Bay Area benefit greatly for Increased 203k loan limits for 2023Single family loan amount is $1,089,300 when you adjust to include the 3.5% down payment that is a home in the range of $1,128,808. Duplex loan limit is $1,394,775 and when adjusted to include the 3.5% down payment comes to $1,445,362.Triplex loan limits is $1,685,850 and when adjust to include the 3.5% down payment comes to $1,746,994.Lastly a fourplex loan limit for 2023 is $2,095,200 and adjusted for the 3.5% down payment comes to $2,171,191.That isn't to say you can't put more down. So you want to purchase a fourplex in San Francisco as an example and they are asking $2,500,000, your client merely needs to come up with $328,909 which in San Francisco isn't that much to ask. Remember some unique aspects of the FHA 203...
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