There are so many available loan products out there. Here is a bit of information that you might find helpful when considerring your loan options in California.
There are some handy links below for FHA loan limits, approved condo projects and approved appraisers.
FHA Highlights
- FHA has no Declining Market Guideline for loan amounts less the $417,000. For loan amounts greater than $417,000 and LTV is greater than 95% 2 appraisals are required.
- 95% LTV Cash out OK up to $417,000. Over $417,000 restricted to 85%.
- 97% LTV Purchase and Rate & Term.
- Credit Scores as low as 620 for loan amounts over $362,700.
- Non-Occupant Co-Borrowers OK.
- 100% of Funds can be Gift.
- No Reserve Requirement.
- 6% of Non-Recurring Closing Costs can be paid by Seller.
- Loan Amounts to $729,500 ( in most counties)
http://fhaoutreach.com/ FHA loan limits
https://entp.hud.gov/idapp/html/condlook.cfm For approved condos
https://entp.hud.gov/idapp/html/apprlook.cfm For approved appraisers
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