FHA Limits have been raised! Check your county limits

By
Mortgage and Lending with Sierra Pacific Mortgage Company

 

Ryan Morrow
Loan Officer
Skyline Financial Corp
Phone: (661) 992-2216
Fax: (818) 971-4371
ryanmorrow@skylinefinancialcorp.com
http://www.morrowmortgage.com/

FHA Limits have been raised!

HUD has finally completed their loan limit changes for FHA financing!
Below is an example of what Los Angeles County has been increased to:

 

MSA Name MSA Code Division County Name County
Code
StateOne-FamilyTwo-FamilyThree-FamilyFour-FamilyLast Revised
LOS ANGELES-LONG BEACH-GLENDALE, CA METROPOLITAN D3110031084 LOS ANGELES037 CA$729,750$934,200$1,129,250$1,403,40003/05/2008

What did your county increase to?  https://entp.hud.gov/idapp/html/hicostlook.cfm?CFID=9175300&CFTOKEN=4419c76-0002c3e1-25dc-17d0-84b4-80e92bf40000



How do these loan limit increases benefit you?

Purchase/Refinace Benefits

  • •No First Time Homebuyer Requirement
  • •No Minimum FICO Requirement
  • •No Income Restrictions
  • •Sellers Can Pay up to 6% toward buyers closing cost and or rate buydown
  • •3% Down payment can be gifted from non-profit orginzations or family
  • •Non-Occupant Co-signers allowed
  • •No 2yr. Work History Requirement
  • •Collections may not need to be paid
  • •Recently Listed for Sale ok for Refinance
  • •Refinance up to 97% loan to value
  • •No Risk based pricing for FICO's under 680!
  • •Great Rates on 30yr. Fixed and 5/1 ARMS




For More information on FHA Financing please call today


Ryan Morrow
Skyline Financial Corp
ryanmorrow@skylinefinancialcorp.com

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Ryan Morrow

Ryan Morrow Branch Manager Sierra Pacific Mortgage