FHA Loan Scranton PA

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

Capstone Wealth Management Group
888-587-7526
285 East Grove Street
Clarks Green, PA
Your Money Matters
800-729-1564
301 West Grove st
Clarks Summit, PA
Abington Financial Group
570-586-1013
711 North State Street
Clarks Summit, PA
Florey Insurance Agency Inc
1-800-231-3227
1186 Winola Road
Clarks Summit, PA
Your Money Matters
800-729-1564
301 West Grove st.
Clarks Summit, PA
One Stop Auto Credit
(570) 343-8117
948 N Washington Ave
Scranton, PA
First Liberty Bank & Trust-A Div of Community Bank N A
(570) 341-5555
500 Davis St
Scranton, PA
Branches
(570) 341-8100
130 N Keyser Ave
Scranton, PA
Penn Security Bank & Trust Co
(570) 346-7741
Spruce St & N Washin
Scranton, PA
Pennstar Bank
(570) 343-5915
1510 S Main Ave
Scranton, PA

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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

Capstone Wealth Management Group

888-587-7526
285 East Grove Street
Clarks Green, PA

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