FHA Homeownership Act 2007- Making Home Ownership Possible

Expanding homeownership act of 2007 is providing Bay Area Homeowners affordable mortgage alternatives. The reform provides safe affordable mortgage alternatives without resorting to teaser rates or negative amortization rates.

The FHA reform increases the FHA loan limit to 125 percent of an area’s median home price, with a cap at $729,750. The current FHA loan limit is only $362,790 in contrast. High cost areas such as ours this will provide an affordable mortgage alternative to costly and limited subprime loans.

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