Utah’s representatives in Washington should push the Federal Housing Authority to make adjustments to loan limits that unfairly impact north Utah County and threaten the sputtering market in local real estate.
The FHA recently raised its limits on home loans in some areas — meaning a buyer can get a larger loan at a lower interest rate. The move is part of the economic stimulus package Congress passed earlier this year. But the agency has denied a request to raise such loan limits in Utah County.
Interest rates from government lending enterprises have long varied by county, and Utah County’s loan limits have been lower than Salt Lake County’s. But it’s time for this to change...Read More