FHA Loan Limits Increase in Chelan / Douglas Co.

Guest Post: Submitted by Darel Ansley, Peoples Bank, Wenatchee

The FHA loan limits were set to decrease January 1st, but the Government has now announced an increase for some counties. Included in this are Chelan and Douglas Counties with new FHA loan limits of $342,700 for a single-family home.   Okanogan and Grant County will be at $271,050

We have been trying to get the message out that this is the new loan of choice for all buyers, FHA does not have income limits and is not just for first-time buyers.  Here are some of the advantages over the normal Fannie Mae conforming loan:

1) Easier credit qualifying
2) Only 3% down
3) Lower interest rates
4) Less expensive mortgage insurance
5) Assumable mortgage
6) Family members can co-sign
7) No reserve requirement

Rates are currently around 6.0%

One last thing to note- the only FHA underwriter in Wenatchee is right here in our office; to the best of my knowledge, all other FHA lenders have to ship their loans somewhere else for underwriting.

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Allyson and Geordie Romer

Leavenworth real estate agents - Allyson and Geordie Romer

For over a decade, Allyson and Geordie have been serving clients in the Leavenworth-area real estate market. Together, they work tirelessly to stay on top of the regional market and present the most relevant opportunities to their clientele.

When not in the office, they can be found exploring the endless recreation opportunities of the area in all of its seasons.

 

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Geordie provided excellent real estate representation! We appreciated his detailed knowledge of the market, his up front and honest approach, and his negotiation skills.
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- Laura Anderson

 

 

As “west siders” looking for a getaway near Leavenworth, Geordie provided insight … his knowledge of design features important in a “snowy winter wonderland” was appreciated. Thanks Geordie!
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Geordie made this somewhat complicated transition easier for us…going above and beyond to help us work through issues that came up during the sale of our parents home. We appreciated his knowledge, attentiveness to details and his willing spirit.
Our family is grateful for Geordie!
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- Terry Foster

 

 

Geordie was great in every way. We have been looking in the Leavenworth area for some time, and Geordie was absolutely the best for local knowledge, history and depth on neighborhoods, developments and the local market trends. He was very quick to respond (even when he was on his vacation) and worked very diligently to get all of our questions answered in a very timely fashion. We would recommend him highly to anyone looking to buy or sell a home. Very friendly, and helped us navigate all of the local options before we made an offer on the property that we purchased. Thank you, Geordie!

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- Ryan Olsen

 

 

It was such a pleasure to work with Geordie and his wife, Allyson on our cabin purchase. They showed us a variety of locations, listened to what we wanted and helped us find the perfect match. Everything was smooth and not stressful, just relaxed and easy. We would definitely recommend Geordie and use him again if the need arises!

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