They are now here. FHA Jumbo loans. The new stimulus bill allows FHA loans up to $729,750 in the highest cost markets. Even if you are not in one of these markets, your loan limits have increased. Click here to access the limits for your area. (pdf will take a moment to load).
The FHA jumbo loan is fast becoming our most popular loan with the wider range of qualifying rules, (lower fico's, credit hiccups, etc), but also for the sheer economy of the loan.
>FHA Mortgage Insurance is cheaper on a monthly basis
>FHA loan are the most affordable loans on the market today
>FHA loans still go to 97% loan to value (require just 3% down payment)
There is no "declining market" hit for FHA (other loan programs have increased the down payment to 5, 10 or 20%)
And FHA loans are 30 year fixed rates.
>no Rate Adjustments
>no Interest Only
>no Negative Amortization.
Call the FHA loan pros to help with your safe, secure, affordable FHA loan. Call me at 866-900-2342 (toll free) or apply online at www.vandykfunding.com
