FHA Loan Lawrence KS

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

Abram Brown Financial Consultants, LLC
(785)842-3530
3227 Huntington Rd
Lawrence, KS
Ad Astra Mortgage
(785) 841-4434
2701 W 6th St
Lawrence, KS
Bank of America
(785) 842-1000
900 Ohio St # 3
Lawrence, KS
Loanmax
(785) 838-4900
800 W 23rd St
Lawrence, KS
First Horizon Home Loans
(785) 832-1276
4604 Palomino Ct
Lawrence, KS
First Federal Savings & Loan
(785) 749-5500
4311 W 6th St
Lawrence, KS
First National Mortgage Sources
(785) 749-7700
1820 W 6th St
Lawrence, KS
Payday Advance
(785) 312-9839
1420 W 23rd St Ste 3
Lawrence, KS
Bank of America
(785) 843-0918
900 Ohio St # 3
Lawrence, KS
Signature Mortgage Group
(785) 856-5000
4102 W 6th St
Lawrence, KS

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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

Abram Brown Financial Consultants, LLC

(785)842-3530
3227 Huntington Rd
Lawrence, KS

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