HUD Archives: News Releases

HUD No. 05-0708
Matthew Stewart
(904) 232-2627
For Release
July 8, 2005


JACKSONVILLE - The U.S. Department of Housing & Urban Development's (HUD) today announced that an increase
in the Federal Housing Administration (FHA) loan limits for Okaloosa County, which includes the Ft. Walton Beach-Crestview-Destin Metropolitan Statistical Area (MSA), has been approved.

"President Bush understands that when we open the doors of the American Dream to more families, we all win," said newly appointed HUD [Atlanta] Regional Director, Bob Young. "Homeownership is at an all-time high nationally. Ownership inspires civic responsibility, offers children a stable living environment and generates economic benefits
for families and communities."

Unit Size
Previous Limit
New Limit
1 - Family
2 - Family
3 - Family
4 - Family
No Change

HUD's Jacksonville Field Office serves the North Florida area and its Director, J. Nicholas Shelley, added that housing affordability is becoming more scarce in Florida and said, "The $31,618 increase in FHA limits for single family
properties will make it easier for more families in the area to realize the dream of homeownership, using our FHA Programs."

The loan limit increase was considered using data obtained from the Okaloosa Property Appraiser's Office and was based on a total of 647 closings in Okaloosa County from March through April 2005, with a median sales price of $215,000.

HUD is the nation's housing agency committed to increasing homeownership, particularly among minorities, creating affordable housing opportunities for low-income Americans, supporting the homeless, elderly, people with disabilities and people living with AIDS. The Department also promotes economic and community development as well as
enforces the nation's fair housing laws.


Content Archived: March 15, 2011