FHA Mortgage question - high cost areas (loan, mortgage companies, loan)

[Bonzimir]

In high cost areas, how difficult is it now to get a larger FHA loan closer to the top of the 2009 limit? From my small amount of research at a couple of mortgage websites, it looks like some companies haven't really embraced the new FHA conforming limit (or they haven't updated their websites which is very possible). I think in my area the FHA limit for single family is $729K but a lot of mortgage companies still indicate a maximum loan of $417K. I'm just trying to figure out if that's old information or if mortgage companies are actually being conservative and not handing out the larger FHA loans even in the high cost areas.

[Daddys///M3]

I have not heard of mortgage companies not going up to the existing FHA limit. Even if they had not instituted the 2009 revised limits (equal now to the 2008 limits) that would still be $625K and not $417K. It's possible that they just do not advertise on their websites (perhaps trying to get you to call an LO) the higher loan amounts but do, in fact, originate at the higher loan amounts. I know that many lenders do not advertise their FHA rates at all on their websites. My suggestion would be to get a referral to a mortgage professional from friends, family, or coworkers as opposed to trying to find all the answers on lender websites, as most lender websites are very vague with regard to product.

[Bonzimir]

Thanks for the reply. I didn't want to waste a broker's time since I'm probably still several months away from seriously looking. I was just getting started on doing some research and trying to see what types of loans are available in this market. I wasn't too worried about the rates at this point, since I'm so far out from actually locking something in but I was mostly interested to know if banks were actually making the higher limit loans since as you mentioned many lenders don't advertise them online.