FHA Jumbo or FHA Stimulus Size - what should we call it?

By
Mortgage and Lending with VanDyk Mortgage - VA, FHA, Conventional, VA Jumbo, Jumbo, Purchase Loans, & Refinance, Direct Lender NMLS 220268 / 3035

There is some confusion out in the media about the new FHA loan limits and just what to call these new loans.   We have several investors that call these Stimulus Size FHA loans, and some call them FHA Jumbo loans.   We just call them great loans.  

These loans can qualify borrowers in high cost areas for much higher loan amounts for safe, secure FHA loans with just 3% down payment or 3% equity for refinance.   The available loan amounts in areas such as Los Angeles & Orange County, & San Francisco (and much of the Bay Area) now allow loans up to $729,750 with just 3% down.   San Diego allows up to $697,500,  Seattle up to $567,500.    

The FHA loan allows home buyers to get into homes with much less cash versus Fannie Mae or Freddie Mac "stimulus size" or "agency jumbo" loans.   These loans require 10% down payment for the higher loan amounts.   They also require much higher fico scores to qualify.     FHA loans look at the overall credit character of your file, not just your fico.  (and require just 3% down payment, even in "declining markets" where Fannie & Freddie increase minimum down payment or equity requirements another 5%.

Give us a call at 760-752-4480 direct, ask for Brian Skaar to see if this is the right loan for your next home.  Or just see if it is a good option to refinance your home into a safe, secure fixed rate loan.  

Some of the areas that we can help with FHA loans include:  Carson, Gardena, Hawthorne, Lawndale, Inglewood, Ladera Heights, View Park, Windsor Hills,  Baldwin Hills, Fox Hills, Culver City, Beverly Hills, Malibu, Santa Monica, Brentwood, Calabasas, Encino, Bel Air Estates, Palos Verdes Estates, Rancho Palos Verdes, Rolling Hills, Rolling Hills Estates, Manhattan Beach, Redondo Beach, Hermosa Beach, Torrance, San Marcos, San Diego, Rancho Bernardo, Carlsbad, Escondido, Poway, Oceanside, Vista, Encinitas, Carmel Valley, Scripps, Tierra Santa, El Cajon, La Jolla, Chula Vista, National City, San Ysidro, Santee, Eastlake, Ramona, Long Beach, Artesia, La Palma, Cerritos, Compton, Lynwood, Bellflower, Temecula, Murrieta,  Southern California, Washington, Everett, Lynnwood, Tacoma, Kent, Federal Way, Auburn, Renton, Bellevue, Redmond, Kirkland, Whittier, Santa Fe Springs, Downey, Irvine, Newport Beach, Los Angeles, San Bernardino, Riverside and Orange County.

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Lending / Financial
Tags:
seattle
los angeles
fha
san diego
fha loans
carlsbad
san marcos
3 down
fha secure

Spam prevention

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
604,267

Brian Skaar

VA, Jumbo, FHA & Conv Direct Lender (760) 752-4480
Let's get started:
*
*
*
*
Spam prevention

Additional Information