FHA VA Blog

You may have heard the buzz. Right now unless congress takes action we will see lower FHA loan limits in Colorado . This will affect about 5% of prospective homebuyers in Colorado once that happens. It is set to go into effect October 1, 2011 unless it is stopped.

It won't effect you if you do an FHA streamline on a mortgage you took out prior to the change, even if your balance remains above the loan limits in effect at that time. And it won't effect you if you are doing a reverse mortgage or Home Equity Conversion Mortgage either (these two are established under a different legal authority).

Here are the proposed changes in Colorado by county:

 County / Current  /. Proposed  / Difference

 Adams County  $ 406,250          $ 368,000                 -$38,250

 Arapahoe County$ 406,250          $ 368,000                 -$38,250

 Archuleta County $ 317,500         $ 285,200                 -$32,300

 Boulder County   $ 460,000         $ 402,500                 -$57,500

 Broomfield County  $ 406,250         $ 368,000              -$38,250 

 Chaffee County      $ 280,000         $ 274,850                -$5,150  

 Clear Creek County  $ 406,250       $ 368,000               -$38,250 

 Denver County      $ 406,250          $ 368,000               -$38,250 

 Douglas County    $ 406,250          $ 368,000                -$38,250 

 Eagle County        $ 729,750         $ 625,500               -$104,250 

 El Paso County    $ 325,000          $ 271,050                -$53,950 

 Elbert County       $ 406,250         $ 368,000                -$38,250 

 Garfield County   $ 425,000          $ 414,000                -$11,000

Gilpin County        $ 406,250       $ 368,000                 -$38,250

 Grand County         $ 356,250      $ 333,500                -$22,750 

 Gunnison County  $ 433,750         $ 357,650               -$76,100

Hinsdale County      $ 557,500        $ 427,800              -$129,700  

 Jefferson County     $ 406,250        $ 368,000                -$38,250 

 La Plata County     $ 443,750        $ 379,500                 -$64,250

Lake County           $ 729,750        $ 625,500               -$104,250

Larimer County       $ 312,500        $ 271,050                -$41,450

Mesa County          $ 371,250        $ 271,050                -$100,200 

 Mineral County      $ 300,000        $ 271,050                 -$28,950 

 Ouray County        $ 482,500         $ 425,500                 -$57,000