FHA Streamline FHA Maximum Loan Amount details…

The DEVIL is in the details! 

On an FHA Streamline Refinance (we’re doing a ton of these right now!) we found some new (to us) information:

Note: Headquarter Decision allows Streamline Transactions at the 2008 Economic Stimulus Loan Limits for streamline refinances without an appraisal. FHA will permit loans originated under the 2008 loan limits to be refinanced at mortgage amounts that exceed the current 2009 (and future) geographic loan limits. For streamlines with appraisals or full refinances, the mortgage amount may exceed the current geographic limit so long as:

• The new loan amount (without MIP) does not exceed the prior case loan amount and
• The new appraised value supports the loan amount and the LTV is not greater that 97.95%

 If you are considering an FHA Streamline Refinance in Raleigh or CaryNC, and you need to see if your qualify – Call Steve and Eleanor Thorne, 919-649-5058.  We have the Lowest Mortgage Rates!