FHA Loan Niles MI

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

Greater Niles Community Federal Credit Union
(269) 684-6005
507 E Main St
Niles, MI
1st Source Bank
(269) 684-1283
127 E Main St
Niles, MI
Check 'n Go
(269) 684-5400
1991 S 11th St Ste 400
Niles, MI
Approved Cash Advance
(269) 683-7780
16 E Main St
Niles, MI
Advance America Cash Advance
(269) 684-9450
1250 Bell Rd
Niles, MI
Countrywide Home Loans
(269) 684-3795
815 E Main St
Niles, MI
Citizens Bank
(989) 593-2225
124 S Main
Fowler, MI
Centreville Banking Center
(269) 467-8525
158 W Main
Centreville, MI
Tri-County Credit Union
(906) 864-5555
912 14th Ave
Menominee, MI
Citifinancial
(616) 784-3941
3539 Alpine Ave NW
Grand Rapids, MI

Provided By:

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

Edensway

574-533-3020
P.O.Box 317
Goshen, IN

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