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New FHA / HUD Guidelines will insure new increased loan amounts based on your county and state. Qualifying customers can now apply for an FHA Jumbo Loan.

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January 21, 2019
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FHA Jumbo Loans

Borrowing the FHA Loan Maximum Amount

New FHA / HUD Guidelines will insure new increased loan amounts based on your county and state. That means you can take advantage of new maximum loan limits for FHA loans. Qualifying customers can now apply for an FHA Jumbo Loan up to the maximum allowed by FHA. You can apply for a home loan with 3.5% down under new FHA loan limits.

A sampling of FHA approved lenders show the following qualifying guidelines:

  1. Qualified borrowers pay for closing costs plus down payment covering the 3.5% statutory minimum.

  2. Standard FHA guidelines and regulations apply, yet many lenders do require a 580 FICO score.

  3. For greater loan amounts on purchases, minimum FICO scores increase to 600 on Purchase, Rate / Term refinances and to 640 on cash-out refinances.

  4. Maximum Debt to Income Ratio's are 43%.

  5. No down payment assistance on loan amounts over $417,000.

  6. No non traditional credit.

  7. Declining Markets: Two appraisals will be required when the loan amount, excluding upfront MIP, will exceed $417,000 and the LTV equal to or greater than 95%.

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FHA Loan Articles and Mortgage News

HUD Announces Higher FHA Loan Limits for 2019

December 23, 2018 - The HUD official site has announced higher FHA home loan limits for 2019. The higher loan limits are attributed to what the agency describes as robust increases in median housing prices over the last year. Nationwide, the limit for average housing markets in 2019 is $314,827.

FHA Cash Out Refinance Loans and Holiday Debt

December 21, 2018 - There are two things to consider about holiday debt when you are considering your home loan refinance options. One is that for any FHA refinance loan that requires a credit check, your debt ratio will be an important factor in loan approval.

FHA Loan Down Payment Issues You Need to Know

December 17, 2018 - The down payment on a home loan is one of the big expenses borrowers worry about in the planning stages of the mortgage process. What do borrowers need to know about down payments and FHA home loans?

The Difference Between Construction Loans and Rehab Loans

December 13, 2018 - Borrowers who want to have a home built for them instead of buying an existing property should look into the FHA One-Time Close Construction Loan. Borrowers who want to remodel, repair, or renovate a home should consider buying and fixing a property with a rehab loan.

Premium Credit Scores and FHA Mortgages

December 12, 2018 - Do you need a premium credit score to qualify for an FHA mortgage? Great credit scores are very helpful for those who want to buy a refinance a home, but with an FHA mortgage they are not necessarily a requirement for loan approval.

FHA.com Reviews

FHA.com is a one-stop resource for homebuyers who want to make the best decisions when it comes to their mortgage. With our detailed, mobile-friendly site, individuals can access information about different FHA products, the latest loan limits, and numerous other resources to make their homebuying experience easier. Take a look at some of the reviews from other FHA.com visitors!