FHA has increased loan limits yet again. The 2008 stimulus raised our loan limits in Marion and Polk counties, but when 2009 hit we saw them go down to the previous levels. It took the passing of the new stimulus to get them back up. So at this point (and I say that because this industry is ever-changing), the maximum loan limit in Marion and Polk county is $295,000. With a minimum down payment of 3.5% the maximum purchase price will be $305,699.
It’s great to see that limit come back up since there is such a large supply of new construction listings in that price range.
To see the full list of counties in Oregon download the 2009 FHA Loan Limits.