Effective with FHA Case Assignment dates on or after January 1, 2009 the down payment and

maximum mortgage amounts for FHA loans have been revised. Highlights include the following:

 ·         Down payment requirements have been revised to require that the borrower pay an amount not

less than 3.5% of the lesser of the appraised value or the sales price minus any required adjustments

on purchase transactions. This is in addition to any borrower closing costs, prepays or discounts.

Guidelines related to source of down payment and seller contributions remain the same.

·         The maximum FHA loan amounts are changing effective January 1, 2009.  

The new maximum single family loan amount for the counties in the Metro Atlanta MSA will be

$320,850.  The Metro Atlanta MSA code is 12060.   Here is the link for all  counties including the

Metro Atlanta MSA:  https://entp.hud.gov/idapp/html/hicostlook.cfm                                                                                                                                                                                                                                   

Please contact me at your convenience should you have any questions.