New for 2009 with FHA Jumbo Loans are some changes to the second appraisal requirements for FHA Jumbo Loans.
In 2008, the threshold for FHA Jumbo loans that require a second appraisal was those loans greater than $362,800 in 2008. The new Threshold for FHA Jumbo Loans requiring a second appraisal for 2009 is $417,000. All FHA Loans $417,001 and above still require the second appraisal, yet this modernization of FHA allows those loans falling between $362,800 and $417,000 to be completed with a single FHA appraisal.
This holds true for FHA Jumbo Purchase Loans, FHA Jumbo Refinance Loans, and non-credit qualifying FHA Jumbo Streamline Refinance loans. FHA Jumbo Streamline Refinance loans are available with NO appraisal required as long as we credit qualify the loan.
FHA Cash out Refinances over 85% LTV also require a second appraisal, regardless of Loan amount.
VanDyk Mortgage has been making FHA loans & VA Loans since 1987. We are a HUD recognized Full Eagle FHA DE underwriter, FHA Direct Lender, & VA Direct Lender. Go with the Government Loan Pros, go with VanDyk. Visit us at www.vandykfunding.com or call Brian Skaar at 760-752-4480 for help with your FHA Streamline, FHA purchase loan, VA purchase loan, or VA Streamline. We offer FHA, FHA Jumbo, FHA Manual Underwrite, FHA Rehab 203K, VA, VA Jumbo, Conforming & Jumbo Loans. We serve the following areas for VA, FHA and Conventional loans: California,Southern California, Northern California, Washington, Texas, Georgia, Florida, San Diego, San Marcos, Carlsbad, Oceanside, Vista, Escondido, Fallbrook, Bonsall, Riverside, Los Angeles, Orange County, Irvine, Corona, Anaheim, and every other city in California, Georgia, Texas, Florida & Washington.
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