HUD Ruling Could Mean More FHA Financing in Pricier Housing Markets
03/06/10
The Department of Housing and Urban Development announced recently that it would no longer consider the price of land in its computation of mortgage limits for FHA-insured developers. The ruling covers 221 (d) 4, as well as 223 (f) and other programs.
The ruling is a step forward in opening up the nation’s high-cost areas to FHA financing, according to Mark Humphreys, CEO of Humphreys Partners Architects, L.P…
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