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the mortgage company or mortgage professional with whom they wish to conduct business is authorized to conduct mortgage business in their state.
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FHA Jumbo Loans
FHA Jumbo Home Loan Programs
Effective March 6, 2008, HUD
will offer temporary FHA
Jumbo loan limits
that will range from $271,050 to $729,750 (Limits). Overall, the
change in loan limits will help provide economic stability to
America's communities. The maximum amount of $729,750 will only
be applicable to extremely high-cost metropolitan areas.
Previously, FHA's loan limits in these very high-cost areas were
capped at $362,790.
The Economic Stimulus Act of 2008 permits
FHA to insure loans on
amounts up to 125 percent of the area median house price, when that
amount is between the national minimum ($271,050) and maximum
($729,750). The new minimum and maximum loan limits are based on 65
percent and 175 percent of the conforming loan limits for
Government-Sponsored Enterprises in 2008, which is $417,000. The FHA
used a combination of existing government data sets and available
commercial information to determine the median sales price for each
area. The change in loan limits are applicable to all FHA-insured
mortgage loans endorsed with HUD’s publication of the increased loan
limits today, and it is temporary.
With the number of homeowners applying daily,
it is important for you to act quickly, so please,
Apply Now so that our FHA Mortgage
Specialists can help you, today.
FHA Jumbo Home Purchase Program
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FHA Jumbo Refinance Loans
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*Note: We
will forward your application to one, single
FHA Specialist who will
contact you to discuss the best FHA
Programs and the lowest rates available at
this time. We do not re-sell, distribute, disseminate
your application information to telemarketers, multiple
lenders, or 3rd party marketing firms.
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