Distinguished active-duty military members who received the esteemed purple-heart medal for service during combat are now eligible to obtain a VA home loan free of the VA funding fee. Home re-finance loans are also included in this benefit. This translates to considerable savings with the funding … [Read more...]
FHA Loan Limits Rise Again In 2020
Great economic news for FHA loan customers starting in 2020. According to an announcement from the FHA, the 2020 FHA loan limit for most of the country will be $331,760, an increase of nearly $17,000 over 2019’s loan limit of $314,827. That loan limit applies to much of the country, with the … [Read more...]
Conforming Loan Limits JUMP UP AGAIN in 2020
Conforming Loan Limits will JUMP UP AGAIN in 2020. The Federal Housing Finance Agency announced Tuesday that it is raising the conforming loan limits for Fannie Mae and Freddie Mac to more than $510,000. In most of the U.S., the 2020 maximum conforming loan limit will be raised to $510,400, up … [Read more...]
VA Cash Out Refinance Limit Lowered to 90% Beginning November 1, 2019
First we saw FHA lower their cash out refinance limit just last week. Now the Veterans Administration is following suit to lower their cash out refinance limit from 100% to 90% effective with mortgage-backed securities guaranteed on or after November 1, 2019. If you've been thinking of taking out … [Read more...]
FHA moves to limit cash-out refinances
For the first time in a decade, FHA cash out refinance limits have been slashed from 85% to 80% of your home's value. If this 5% cut won't help you achieve your goals then let's see if you are able to consider other loan programs that may provide the cash you need. Call us to discuss your options … [Read more...]
