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FHA High Balance

Real estate values vary in different parts of the country. In some areas, homes are more expensive and as a result, the Federal Housing Finance Agency (FHFA) adjusts its loan limits for these “high cost” areas.

If you are planning to buy a home in an area considered high cost, an FHA High Balance loan may be the best solution for you. At A&D Mortgage, we are experienced in these kinds of FHA transactions and we’ll guide you through the entire loan process.

Program highlights:

  • Loan amounts up to $765,000 depending on home location
  • Available on primary residence and second/vacation homes
  • Condo financing available

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Other Programs

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FHA Streamline

- No appraisal and no income documentation are required
- You must have made at least six payments on your FHA mortgage
- To qualify, you’re required to be current on your monthly loan payments

WVOE / 1099

- FICO 580
- Up to 80% LTV for WVOE
- Up to 90% LTV for 1099
- Loan amounts up to $4 million
- DTI 55% Max
- Cash out available
- Completed FNMA Form 1005 for 2-year history with the same employer

Freddie Mac Refi Possible

- Designed for lower-income families
- Limited to owner-occupied, 1-unit primary residence financed through Fannie Mae or Freddie Mac
- Lowers interest rate by 0.5% and monthly payment by at least $50
- FICO 620
- Up to 97% LTV
- Income at or below 80% of the area median income (AMI)
- Maximum DTI 65%
- Borrower will receive $500 credit at closing if they have an existing appraisal
- Roll up to $5,000 in closing costs for those with limited cash to close. Cash-out limited to $250
- Reduced documentation requirements

Fannie Mae Refi Now

- Designed for lower-income families
- Limited to owner-occupied, 1-unit primary residence financed through Fannie Mae or Freddie Mac
- Lowers interest rate by 0.5% and monthly payment by at least $50
- FICO 620
- Up to 97% LTV
- Income at or below 80% of the area median income (AMI)
- Maximum DTI 65%
- Borrower will receive $500 credit at closing if they have an existing appraisal
- Roll up to $5000 in closing costs for those with limited cash to close. Cash-out limited to $250
- Reduced documentation requirements