New San Bernadino and Riverside FHA loan limits (San Diego, San Bernardino: jumbo loan, refinance)

[Unkllars]

Hello City-Forum,
This is something everyone needs to know! FHA loan limits are up!!! $500K in Riverside and San Bernardino, $729,750 in OC and LA counties, and $697,500 in San Diego. This is tremendous news as FHA is a very solid program that will allow us to potentially refi homes but more importantly it will allow someone to purchase a home up, to $750,000 in OC; $510,000 in Riverside and San Bernardino Counties; $710,000 in San Diego County, and only put down 3%. Keep in mind though that this program is currently available only till the end of the year.

This is some serious news for homeowners waiting to refinance and also for those wanting to purchase but couldn't or didn't want a jumbo loan. This will bring a boost to the market and housing affordability. We wish you the best in this market and please share this info with those you know. Also, ask questions!!

[KabawL]

Originally Posted by Unkllars

Hello City-Forum,
This is something everyone needs to know! FHA loan limits are up!!! $500K in Riverside and San Bernardino, $729,750 in OC and LA counties, and $697,500 in San Diego. This is tremendous news as FHA is a very solid program that will allow us to potentially refi homes but more importantly it will allow someone to purchase a home up, to $750,000 in OC; $510,000 in Riverside and San Bernardino Counties; $710,000 in San Diego County, and only put down 3%. Keep in mind though that this program is currently available only till the end of the year.

This is some serious news for homeowners waiting to refinance and also for those wanting to purchase but couldn't or didn't want a jumbo loan. This will bring a boost to the market and housing affordability. We wish you the best in this market and please share this info with those you know. Also, ask questions!!

Thats what Im looking to get into with Wells Fargo. My agent had said something about CalHfa too. I sent in my loan application along numerous other documents to get looked over. Hopefully tomorrow, I can get some scenarios. Im stumped wondering what type of loan will exactly fit my needs but will also benefit me and my wife in the long run.

Im hoping to spend no more than 5 to 6 years in the house. And... of course Im hoping the market will change for the better by then. New president, people learn their lessons, troops get pulled out of places they dont belong, etc. Victoville looks promising and isnt as bad as people make it out to be. Its growing tremendously. The house I plan on getting is going for 220,990. 2287sqft, lot 7400. 3bed, 2.5bath, den, dining, family, kitchen, all appliances, granite, tile slab, carpet. Huge back yard. New home!