Concord NC gets increased FHA mortgage loan limits

Earlier today, HUD released the updated FHA mortgage loan limits for the Charlotte-Gastonia-Concord metropolitan area. Now FHA mortgages in Concord can go up to $303,750. That is terrific news for this area, for both home buyers and home owners.

Home buyers should really enjoy this. Concord NC is a great area to live.  According to information from City-Data.com, the new FHA mortgage limits for Concord will now allow roughly another 1,500 Concord homes to qualify for great FHA mortgage financing. With low rates, easy financing terms and affordable low monthly mortgage insurance payments, Concord FHA mortgages can open a new door for those that might not otherwise qualify to buy a home!

Concord FHA loans also allow a home buyer to purchase a HUD foreclosed home in Concord with only $100 down. This special program waives the required 3% down payment, making home ownership even more affordable!

Homeowners in Concord now have more options. With the new FHA loan limits in Concord, home owners can qualify for a cash out refinance loan up to $303,750 and up to 95% of the property’s value! With the FHA cash out refinance in Concord, there are no major interest rate adjustments for cash out, making the FHA mortgage rate in Concord much more appealing than conventional mortgages. And conventional mortgages can limit you to only 90% of the property’s value!

This is the best time ever to look into a Concord FHA mortgage loan.

{{fha}}