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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