REASONS FHA WILL BE HUGE IN 2008
Reason #2 FHA LOAN LIMITS ARE EXPECTED TO INCREASE TO $417,000.
This increase has already passed the Senate 93 to 1. The Senate is also asking for the minimum down payment requirement to be reduced to 1.5%.
These changes will allow for more FHA financing in our area. Nationally, it is estimated that FHA mortgages make up just 4% of the financing for single family homes. However, just 10 years ago FHA made up over 19% of single family financing.
FHA's higher loan limits combined with lower down payments and flexible underwriting will enable more of your clients to purchase the home they desire.
I have been closing FHA Mortgages in New Jersey for over 22 years. Please call me so I can highlight some of the ways FHA can help your clients.
No comments:
Post a Comment