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FHA Loans up to $625,500!
Find out how to take advantage of
this fantastic, limited-time opportunity!
Under the
Housing and Economic Recovery Act (HERA) of 2008 passed in July
2008, FHA limits have been increased
up to $625,500 - giving homebuyers and homeowners an unprecedented
opportunity to take advantage of this powerful program. The maximum
amount of $625,500 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 Housing and Economic Recovery Act permits 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 ($625,500). The new minimum and
maximum loan limits are based on 65 percent and 150 percent
of the conforming loan limits for Government-Sponsored Enterprises
in 2009, which is $417,000. If you are pursuing a cash-out refinance
and the loan balance exclusive of FHA's upfront mortgage insurance
premium will exceed $417,000, the loan-to-value may not exceed
85 percent of the appraiser's estimate of value.
The Mid-Island Mortgage Corp. difference.
What separates Mid-Island Mortgage
Corp. from everyone else is our solid track record and proven stability
since 1959. Mid-Island Mortgage Corp. is your personal mortgage
banker, regardless of trends and market cycles. While many
of the new players to the home mortgage field have abandoned the
community, chasing the next "hot market" to take advantage
of, Mid-Island Mortgage Corp. is still happily serving you, your
family and your neighbors.
Our commitment to the thousands
seeking the dream of home ownership is one of the many reasons
we say "you always have a home with us!"
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apply now!
it's fast, easy and secure |
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