2009 FHA Loan Limit Increases for Orange/Rockland County New York
Posted on 26. Feb, 2009 by Joshua Ferris in FHA, Featured, Finance, News & Reviews, new york, real estate
FHA loan limits have increased in Orange and Rockland Counties to reflect the higher cost of living in the suburbs of New York City. See the previous and new FHA loan limits, by county, below:
Orange County New York FHA Changes
Previous Single Family Home FHA Loan Limit: $356,500
NEW Single Family Home FHA Loan Limit: $443,750
Rockland County New York FHA Changes
Previous Single Family Home FHA Loan Limit: $625,500
NEW Single Family Home FHA Loan Limit: $729,750
The new FHA loan limits should make it much easier to purchase a single family home in areas like Monroe, Newburgh and Rockland County where prices are typically higher than most other parts of the United States.
Condominium communities are still subject to FHA approval so be sure to check which communities are FHA approved before viewing condo/townhouse communities. Brighton Green in Newburgh, NY is FHA approved and new homes are being built in the final phase of the neighborhood.