Some good news for Lancaster County homebuyers - FHA recently raised their top loan amount quite a bit, to $383,750. That means that first-time homebuyers can still access the better mortgage rates FHA offers while buying more home. In fact, $383,750 really is a big number for Lancaster County, PA. If you're a first-time homebuyer here, you can do quite well for that level of sale price!
Also going up was the two-family property top loan rate, to $491,250. Again, you can buy a pretty substantial property in Lancaster County for that level of sales price.
Read my recent article on the increasing dominance of FHA financing in the home market here. I predict we'll see FHA loans in Lancaster increase tremendously throughout this year.
