FHA Newsflash- Details on Higher FHA Loan Limi

FHA Newsflash- Details on Higher FHA Loan Limi

images1.jpgWells Fargo announced today that loans that are registered today will be eligible for the High balance FHA Loan Limits. Wells Fargo FHA High Cost loan limit program is $417,000 for one-unit and single family homes.Overall FHA loan limits are temporarily increased in high cost areas defined by HUD. Highlights of FHA lending guidelines include:

Purchase and Refinance to 98.75% of your homes value

30yr fixed rate loan

3/1 or 5/1 loan terms available

Cash out refinance to 85% of your homes value

Reformed FHA appraisal guidelines

This is positive news for the Bay Area housing market. Subscribe to my site via email to receive the most up to date FHA loan news.

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