what are the pros and cons to using a FHA loan. What is the max amount you can borrow for a home with a FHA?

Asked by Michelle, Santa Maria, CA Thu Feb 28, 2008

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foundationpl…, , Missoula, MT
Mon Nov 25, 2013
An FHA loan can finance mobile / manufactured home purchases. The homes will need to sit on a certified engineered foundation. To get your foundation plans fast, foundationplans.com delivers professional drawings within 4 days!
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, ,
Mon Sep 9, 2013
One of the benefits is the max loan limit which in Santa Barbara County is $729,750. Compared to $650,000 for a FNMA High Balance.

The other is the low interest rate, which is offset by the high cost of mortgage insurance.

One problem is that sellers do not like to sell to FHA buyers as they do not want to be forced into making repairs.

Finally, FHA has much lower credit restrictions.

It is hard to get an FHA loan through, we can make it much easier with our funding guarantee.

Please call if you would like more information.

Rich Littlefield
949-297-1204
Tri-Emerald Financial Group

NMLS 287206
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Linda Ginex, Agent, Newport Beach, CA
Sun Mar 16, 2008
You have to qualify for an FHA loan. No real drawbacks upfront except for a full doc loan approach which is not all that uncommon these days. I know plenty of fisrt time home buyers that went FHA for their first home. Since you are local, I'm going to refer you to Matt Goulart, my Loan Officer with Premier Lending Services in Santa Maria. He's been doing loans for over 7 years and will give you full run down of what you need to know about FHA. His number direct is 805-709-0842 and yes, he works around your schedule.
Web Reference:  http://www.premierlend.com
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