The coverage limit for FHA single-family mortgage eligibility more than doubled from 2007 to 2010 during the collapse in the housing market and financial sector. These increases were due primarily to higher loans for more expensive homes. As a result, FHA homebuyers could buy homes more than twice the prices of the U.S. median home while providing only modest down payments.
The coverage limit for FHA single-family mortgage eligibility more than doubled from 2007 to 2010 during the collapse in the housing market and financial sector. These increases were due primarily to higher loans for more expensive homes. As a result, FHA homebuyers could buy homes more than twice the prices of the U.S. median home while providing only modest down payments.