Nearly ALL Lenders have now increased the credit score requirement for FHA to 620. There have been some positive changes to the loan limits for FHA however.
2009 FHA Loan Limits for Seattle-Bellevue and Beyond
King, Snohomish and Pierce Counties loan limits effective January 1, 2009 are:
• Single Family: $506,000
• Two Family: $647,750
• Three Family: $783,000
• Four Family: $973,100
The new loan limit is lower than the current FHA Jumbo limit of $567,500 and it happens to be the same as the jumbo-conforming (aka high-balance) loan limits for our area for 2009.
30 year fixed this week is at 5.0% with a 1% origination fee.
FHA 30 year fixed = 5.25% with 1% origination fee.
Quoted by: Jeff Judy, VP Hometown Lending
_____________________________________________________________________
Hometown Lending, Div TMBG, Inc. LO#: 510-LO-34648
Phone: 425.224.8503 Mobile: 425.422.3000
10025 19th AVE SE, Ste. 100, Everett, WA 98208
ontheweb:www.hometownlending.us/jeff
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