As part of the American Recovery and Reinvestment Act (ARRA) loan limits for FHA loans have been increased. Here in Washtenaw County, the limit has been raised from $271,050 to $345,000. If you have a credit score of 620 or above, this might be a great option for you. In addition, since FHA loans require only 3.5% down this is more managable for many folks compared with conventional loans.