Lane County enjoyed increased FHA mortgage limits until Dec. 31, but they are gone now and the New FHA Loan Limits for 2009 are here.
Statewide, FHA loan limits have been decreased pretty much across the board.
The majority of Oregon counties fall below the current Conforming Loan Limit of $417,000 only a few are above the FHA minimum limit of $271,050 for single family units.
For Lane County the new limit for a Single Family Residence is $271,050. This loan amount would be considered normal FHA in regards to pricing/rates. For Benton County (Corvallis Metropolitan Service Area or MSA), the new limit for a Single Family Residence is $295,550.
The Portland MSA includes Multnomah, Washington, Columbia, Clackamas, and Yamhill Counties. The Salem and Eugene MSAs fall under the minimum county loan limit of $271,050. In addition, the minimum down payment went up to 3.5% across the board.
Here is a chart for the 2009 Oregon FHA and conventional loan limits:
Call me today at 541-342-7576 to find out what we can do for your specific needs. You can also use this link to apply for an Oregon loan. FHA mortgage rates are excellent and combined with the reasonable, common sense underwriting procedures for FHA loans; it makes sense to consider an FHA loan when thinking about the purchase or refinance of your home.
*This is not an offer to lend. 
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