FHA ML 11-39 – Maximum Loan Limits in effect until 12/31/2012/ VA funding fees unchanged

The Federal Housing Administration (FHA) has left loan limits unchanged for both forward (purchase and refinance mortgages), as well as Home Equity Conversion Mortgages (HECM). Home Equity Conversion Mortgages are commonly referred to as reverse mortgages and the statutory limit remains unchanged at $ 625,000. These limits will be in effect through 12/31/2012.

To lookup the FHA maximum loan limits for a specific county click on the link below or go directly to the FHA website.

https://entp.hud.gov/idapp/html/hicost1.cfm

After flip flopping back and forth, VA has announced that there will be no change in funding fees from pre October 1, 2011 levels.

As always, I look forward to your questions and comments.

Best, Chip 

Chip Allen

Crestline Mortgage Bankers

A Division of Universal Lending Corp

Direct: 303.947.2109

Fax: 303.987.0676

Loanchip@hotmail.com

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