RE: FHA limits: if the house we want is higher

Asked by Carissa, Brooklyn, OH Thu Mar 13, 2008

If the home we want is 10k higher than the 362k limit, can we pay down the house to the limit or is it out of the range completely? Thank you.

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, ,
Tue Jun 19, 2012
Dear Carissa,

I'd love to sit down and chat with you to complete a thorough Prequalification. I'm a Local Mortgage Banker and I've been helping HomeBuyers for 22+years here in the NY Metro region.

In the Prequalification meeting we'll review the building blocks of a successful mortgage application: IAC or Income, Assets, and Credit. Then we can determine the loan programs we can offer you and the programs that are the best fit depending on your family's goals and financial lifestyle. I'll also guide you through the entire process of buying a home, from finding a great local Realtor, to making an offer, home inspections, contract signing, loan process and closing. My clients get a personalized "First Time Buyer's Seminar."

I'm accessible seven days a week and I make house calls, so give me a call today and we can get you on your way to homeownership!

Trevor Curran
NMLS #40140
Office: 516-829-2900
Mobile: 516-582-9181
Fax: 516-829-2944
PowerHouse Solutions, Inc.
185 Great Neck Rd, Suite 240
Great Neck NY 11021
Licensed Mortgage Banker – NYS Dept. of Financial Services
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Carissa, Home Buyer, Brooklyn, OH
Thu Mar 13, 2008
They did, but for higher dwelling homes..we are looking at a smaller one family apt---unless I am misunderstanding, the highest limits are for larger homes and multiple units.
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Gail Gladsto…, Agent, 11743, NY
Thu Mar 13, 2008
I thought the FHA raised it's limits to over $700k. You should check with a mortgage broker. if you contact me offline ( I will be happy to give you the name of a terrific mortgage person.
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