"Many people in our community have been waiting for the announcement which came this week from the Federal Housing Administration," said Martha Fulmer, president of Mortgage Matters, Inc. in Fayetteville.

"This major release increases the mortgage loan amounts for an FHA loan. The surrounding marketing areas affected by this change include the Fayette, Coweta, Spalding, Henry and Clayton counties. This change will increase the maximum loan amount in these counties to $145, 350."

Fulmer continued to say that these higher loan limits will unlock the door of homeownership for hardworking families, changing ownership froman impossible dream to a "sweet reality."

"Now that the conventional locams are based mainly on credit scores," said Fulmer. "The new FHA limits will make it possible for people to secure a mortgage with more flexible credit ratings, lower downpayments, finance the closing cost, allow homebuyers to carry more debt and let gifts from family members and non-profit groups be used as downpayments."

People who fit this profile, have been unable, up until now, to find a home in the price range of the FHA limits. The problem has been that the maximum FHA loan limits have not increased at the same pace as the rising cost of homes.

"With rates down and the FHA loan limits up, now is the time to check with a local Realtor and mortgage company, to purchase that American Dream," said Fulmer.

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