FHA loans have become as common as conventional in today’s market. The guide lines for FHA loans are constantly changing.
The limits of certain types of FHA loans are going to drastically change as of the end of the year. This could greatly reduce your potential buying power in today’s market.
Another change that is happening in the market concerning FHA loans is; trying to eliminate the ability of buyers who buy a new home and then bail on their previous residence. This change in FHA focuses on buyers who choose to rent their previous residence and use that income to qualify for a FHA loan when trying to by a new home.
Please let me know if you need any additional information about these changes.