Real estate blog entries tagged with fha by City Lights Financial Express, Inc.

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Home : Blogs : John Severino : John's Blog : Tag "fha"

fha: FHA and the stimulus package - 02/15/08 03:57 PM

Here are some FHA facts and a quick question.
Currently the FHA program has no declining value adjustments at the government level, has low down payment and loan to values as high as 97%, cash out refinances allowed to 85%, rate and tern refinances to 97%, total down payment can be a gift, no credit score requirements, no income limits or sales price restrictions, FHA loans are assumable, seller concessions may be as high as 6%, no cash reserves required, non-occupying borrowers are allowed with blended ratios (SFR only), non taxable income (including child support) may be grossed up, and bankruptcies allowed … (1 comments)

fha: Stimulus Package update - 02/12/08 11:18 AM

Tomorrow President Bush is likely to sign into law the recently passed economic stimulus bill. It raises the limit on the size of mortgage that Fannie Mae and Freddie Mac may purchase and that the Federal Housing Administration (FHA) may insure. In both cases, the increases are temporary and apply only to loans originated by the end of 2008. If signed, Fannie and Freddie may purchase loans up to 125% of the median home price in an area, up to a national limit of $729,750. YAHOO!!!
FHA limits, and I assume VA, would see the same increase, and the floor on FHA … (8 comments)

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John Severino

Sylmar, CA

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