FHA Loan Mount Sterling KY

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

Oak Tree Mortgage
606.356.1688
124 N. Maysville Street
Mt. Sterling, KY
Pioneer Credit Company
(859) 498-6421
1103 Indian Mound Dr
Mount Sterling, KY
Whitaker Bank-Mt Sterling
(859) 497-8625
Mount Sterling, KY
Cash Express
(270) 384-1594
849 Jamestown St
Columbia, KY
Wells Fargo Financial
(859) 264-0302
1792 Alysheba Way
Lexington, KY
Commonwealth Community Bank
(270) 926-6079
Main St
Fordsville, KY
Bb&t
(606) 639-4377
5620 Robinson Creek Rd
Robinson Creek, KY
American General Financial Services
(502) 222-1362
204 W Jefferson St
La Grange, KY
Fifth Third Bank
(502) 562-5382
Louisville, KY
Eagle Financial
(502) 454-7799
3411 Bardstown Rd
Louisville, KY

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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

Oak Tree Mortgage

606.356.1688
124 N. Maysville Street
Mt. Sterling, KY

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