On March 14, 2008 the FHA maximum loan amount will be raised to $729,750 due to the economic stimulus package. This is only temporary and won't apply to all areas. It is county specific.  But it only enhances what is already a great loan program. It offers the consumer a better alternative to a subprime loan. FHA loans have a more flexible down payment policy which allows gift funds and only a 3% down payment. A borrower can have a non-occupant co-signer and FHA loans allow slightly blemished credit. FHA loans also offer the best adjustable rate mortgage available. And if that isn't enough, FHA loans have a streamline refinance program which saves you time and money.
Show notes:
www.hud.gov
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