FHA Loan Hilton Head Island SC

Recently, the most popular mortgage product for homebuyers has been the FHA loan. As part of the Economic Stimulus Act of 2008, Congress raised the FHA loan limits so that they are viable for purchasing a moderate home in high cost areas like California and Hawaii.

Local Companies

Carolina First
(843) 341-4508
Hilton Head Island, SC
Carolina First
(843) 341-4504
Hilton Head Island, SC
Carolina First
(843) 341-4515
Hilton Head Island, SC
Carolina First
(843) 341-4500
Hilton Head Island, SC
Unisource Mortgage Services
(843) 342-5000
1 Cardinal Ct Ste 10
Hilton Head Island, SC
Carolina First
(843) 785-4848
Hilton Head Island, SC
Carolina First
(843) 341-4550
Hilton Head Island, SC
National Finance Co
(803) 532-6401
148 N Pine St
Batesburg, SC
Heritage Financial Services Inc
(864) 459-9504
108 Court Sq
Abbeville, SC
World Finance Corp
(803) 628-1554
7 N Congress St
York, SC

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Recently, the most popular mortgage product for homebuyers has been the FHA loan. As part of the Economic Stimulus Act of 2008, Congress raised the FHA loan limits so that they are viable for purchasing a moderate home in high cost areas like California and Hawaii. No longer are FHA loans just for low income families that can't otherwise afford a home.

The greatest part of all is homeowners that do not want to move can still reap the benefits of these changes with an FHA refinance. Like any conventional refinance, this allows a savvy homeowner to tap the equity that he or she has built up in a property from principal pay down and appreciation.

Proceeds from paying off your previous mortgage can be used in any way the owner likes. Of course, the smartest would be to invest this money either back into the house or in some other way. In many cases, it's smart to pull some cash out to update a house in order to increase the value. If the remodeling is done in the right areas of the house it would be possible to profit by doing nothing! Technically, it wouldn't be "nothing" but one could refinance his or her home, use those proceeds to hire out the work and increase the value by more than was spent.

FHA Refinance Requirements

  • Owner must have owned and lived in home for 12 months..

  • Owner must have good credit and timely payments for 12 months.

  • All borrower’s credit must qualify.

  • Loan amounts must be below the maximum for that area.

Click here to read article at HomeConstructionImprovement.Com

Featured Local Company

Insurance Advisory Services

843-801-0129
4755 Marshwood Dr.
Hollywood, SC

Related Local Events
Small Business Tax Workshop
Dates: 10/6/2009 - 10/6/2009
Location: Hilton Head Island Public Library
Bluffton, SC
View Details

14th Annual Southeast Bankruptcy Conference
Dates: 7/29/2009 - 7/30/2009
Location: Westin Hotels & Resorts Hilton Head
Hilton Head, SC
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