About Government Refinance and Home Purchase Programs

Information and Updates on Government Mortgage Programs
Filed under Government Mortgage Financing Programs News

The FHA recently announced that there will be no changes to its maximum loan limits in 2015.

The maximum loan size for FHA loan varies county by county. In a counties deemed high cost the maximum FHA loan size on a single family home is $625,500. The maximum in a low cost county is $271,050. There are varying limits from county to county all across the United States. Contact us to learn more about the FHA loan limits in your county.

FHA loans are excellent loans for borrowers with less than stellar credit. The FHA is much more lenient on credit scores than most other loan types. The FHA is also popular as a home purchase loan because it only requires a 3.5% down payment. Further, the FHA allows for up to 85% cash out loans, so it has been popular in the past as a cash out loan option. Last, homeowners who already have an FHA loan may be eligible to reduce their interest rate through the FHA streamline program.

Contact us today to learn more about FHA loans or other government loan programs.

Comments (0) Posted by G.R.A. Admin on Sunday, December 7th, 2014

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