Posts Tagged ‘fha mortgages’

FHA Limits Higher?

There is speculation that Charlotte’s FHA loan limits may be increased even higher than $230,470. Most of the speculation comes from lenders interpreting the results of the new Economic Stimulus package. So people think we may see limits over $300,000.

As I find out more information, I will share this with you as well. However, as of this posting, FHA’s website says that the Charlotte area has a maximum FHA loan limit of $230,470.

Get pre-approved for a Charlotte FHA mortgage now.

877-411-9327

$100 Down for Charlotte FHA

Mortgage Loans up to $230,740

With the new Economic Stimulus Package and the FHA / HUD Repo Incentive Program, you can now buy a Charlotte home and get a Charlotte FHA mortgage loan up to $230,740 with only $100 down! This is a great program for Charlotte area home buyers!

The Economic Stimulus Package raised the FHA loan limits in Charlotte to $230,740. The FHA / HUD Repo Incentive Program allows home buyers to purchase HUD foreclosed homes with only $100 down and still get a FHA mortgage loan to boot! Under normal circumstances, FHA mortgages require 3% down. With the new FHA loan limits for Charlotte, this means to buy the maximum home with FHA, you would need to put down at least $6,858. to cover the 3% and still maximize the $230,470 loan limit.

But if you choose to buy a Charlotte HUD foreclosed home, you can now buy a home with just $100 down and still get the new Charlotte FHA loan limits!

What a great opportunity!

Let us get you pre-approved for a FHA mortgage today! Then go find your dream home in Charlotte!

To get pre-qualified for a Charlotte FHA mortgage,
call 877-411-9327 or Apply Online Now.

Charlotte FHA Limits

$230,470 is Charlotte’s FHA Mortgage Limit

Yesterday, President Bush authorized the Economic Stimulus Package. In addition to the checks going out to the American public, this package permitted Jumbo loan limits for some areas of the country to be increased temporarily. Since Charlotte’s increase did not surpass the standard loan limits for jumbo loans, we did not gain any increase in the jumbo market. However, the FHA loan limits did increase for the Charlotte-Gastonia-Concord, NC-SC MSA!

Charlotte Areas with New FHA Limits 

This means that properties for sale in Mecklenburg county, Union county, Cabarras county, Gaston county, Anson county and York county now qualify for FHA mortgage loan limits up to $230,470. With the minimum 3% downpayment requirement by FHA, that means a Charlotte home currently for sale for $237,597 can be financed with FHA loan parameters with only 3% down. And until the end of March, we still have access to down payment assistance for Charlotte FHA loans, so you could end up with a new home with no money down!

This opens up a new window of opportunity for Charlotte home buyers that should be considered. FHA mortgage loans are not credit score driven and in many cases the low FHA mortgage insurance can save a home buyer a lot of money! And with great Charlotte FHA mortgage rates, today’s home buyer really needs to look into getting pre-approved for a Charlotte FHA mortgage!

To get pre-qualified for a Charlotte FHA mortgage,
call 877-411-9327 or Apply Online Now.

First Time Home Buyers!

Its time to buy your first home in Charlotte!

Charlotte mortgage rates are low and home selection is high. Government loans such as Charlotte FHA mortgages can make buying your first home in Charlotte easy! And with the new Charlotte FHA HUD Repo Program, you can buy a HUD home with only $100 down! That’s virtually a No Money Down loan for First Time Home Buyers! And you thought that didn’t exist any longer!

We have access to the best mortgage rates and programs for Charlotte First Time Homebuyers. Many of these programs are 100% mortgage loans. With FHA mortgages and VA mortgages, many home buyers in Charlotte can really get into a home with little to no money out of pocket!

If you have been dreaming of buying your first home in Charlotte, now is the time to get qualified. With great mortgage rates and first time home buyer programs still available, you can no longer afford to throw money away on rent. And with the Charlotte real estate market still going strong, you couldn’t ask for a better place to own a home!

First Time Home Buyer Programs in Charlotte, NC

Charlotte Jumbo Mortgages

Loan Limits Rise

Both the Senate and House have passed the economic stimulus plan, which includes an increase in Conforming Mortgage Loan Limits to $625,000 through December 31, 2008. President Bush should sign this bill by early to mid next week and many hope that conforming loan limits will increase immediately. Others assume it will not go into effect until July. Either way, the limits will increase and they do we will let you know.

Unfortunately, FHA Mortgage Reform was eliminated from the bill and there are no permanent FHA loan limit changes. However, since FHA loan limits are a function (or percentage) of conforming loan limits we should see a temporary increase in FHA loan limits.

This is great news for the Charlotte mortgage market! Borrowers with loans between $417,001 and $625,000 could qualify to refinance their jumbo mortgage loans into new mortgages without the jumbo mortgage rate hits! Add that to the best mortgage rates in Charlotte already avalible, and jumbo home owners can really make out!

At the same time, more people buying Charlotte real estate could qualify for low FHA mortgage rates! And with the low mortgage insurance rates offered by FHA, a whole new group of home buyers can enjoy the best Charlotte FHA mortgage loans ever!

If this news affects you, get qualified Now for the better programs coming! Once they are in place, you can be among the first to refinance your Charlotte Jumbo Mortgage Loan or buy your home with the new Charlotte FHA Mortgage Loans!

Apply Online or call 877-411-9327

Charlotte Jumbo Mortgage Loan Limits Increase!

Charlotte FHA Mortgage Loan Limits Increase!

Update: Well, it seems that politicians in their infinite wisdom have made some changes to the final draft of this bill. Based on some of what we are seeing right now, Charlotte may not benefit from this jumbo loan limit increase after all. Some areas in the country will see limits increase to over $700,000! But since Charlotte is still such a strong market, we may not see the increases once thought. Once the President signs this into law, and the legal eyes of all the lenders finally get done, we will see how this impacts Charlotte jumbo loans. However, jumbo rates are near an all time low, so it is still a fantastic time to refinance your jumbo loan, or purchase that dream home you have been wanting! As soon as further information becomes available, I will pass it on to you.

That’s Right!

100% FHA Mortgage Loans

for Charlotte FHA Home Buyers

 Right now, Charlotte home buyers can buy a Charlotte FHA repossessed home with only $100 down! Under this special financing program, Charlotte FHA home buyers can waive the required 3% down! This means less cash out of your pocket, and the best mortgage rates on the market!

FHA has acquired a large number of foreclosed homes in the Charlotte real estate area. In an effort to reduce the inventory, we have access to a special FHA mortgage program called the HUD Repo Program, that allows a home buyer in Charlotte to buy an FHA property with only $100 down. The best news is that there is no addition to the rates, so you will still get fantastic FHA mortgage rates!

Call the Carolina Mortgage Connection to get pre-approved, and we can connect you to an FHA qualified Realtor that can help you locate these special homes!

Apply online or call 877-411-9327!

100% FHA Mortgages in Charlotte! Act now!