Don’t wait - benefit now from FHA loans!
I’ve blogged in the past about how the FHA loan programs are becoming such a great alternative for many to conventional financing.
Lonnie Stevenson at Evergreen Home Loans told me today about a reason why you might want to consider making a home purchase using an FHA loan sooner rather than later.
Here’s the short of it: Under the Housing and Economic Recovery Act of 2008 - mortgage limits are going to be re-set annually, and so effective for those loans which have credit approval on or after January 1, 2009 for FHA loans - the mortgage limit is going to DECREASE for Mohave county from the current limit of $322,500 to the new lower limit of $271,050. This means less buying power for you under these incredible loan programs! You might have to then go toward a conventional loan paying higher interest rates without all of the benefits that an FHA loan provides - You can actually get a nicer home for the same monthly payment using an FHA loan!
Don’t wait - call us today at 928-854-5511 if you’re thinking of making a purchase soon - we can put you in touch with the loan experts to help you make the best decisions possible. If you’re waiting, you’re going to kick yourself in the future for not taking advantage of the current situation!
