If you are considering buying a home using an FHA loan in the Portland Oregon area, you might want to consider making that purchase sooner than later.  This week, the government announced the loan limits for FHA loans in 2009.  The limits for Multnomah, Cl;ackamas, and Washington counties are going to be $362,250, down from $418,750 this year.  In addition to that, the minimum down payment that a borrower must put down will be raised from 3% up to 3.5%.

This is going to make buying a house in the Portland oregon Real Estate marget tougher for a lot of buyers out there who don't have a lot of money to out down toward their purchase.  If you find yourself in this position, you might want to consider buying before the end of the year when the minimum down payment goes up.  You can learn more at my Portland OR Real Estate website.

Thanks,

Adam Highton, Oregon Real Estate Broker

Keller Williams Realty Portland Central