Your Credit Score and FHA Guidelines in Bergen County NJ

On April 6, 2011, in Tips And Advice, by Tony Croft

The Obama administration and HUD have two main goals several goals to improve the credibility of the FHA home loan programs. The first is to increase FHA loan reserves and the second is to reduce loan defaults and foreclosures.  In order to do so, loan eligibility has been more closely linked to credit scores as outlined in the following FHA [...]

2011 FHA Jumbo Loan Limits Bergen County and all NJ

On March 13, 2011, in Tips And Advice, by Tony Croft

The Federal Housing Administration released approved loan limits on mortgages it would insure in 2011, leaving the ceiling unchanged at $729,750. The Economic Stimulus Act of 2008 and the Housing and Economic Recovery Act of 2008 raised the FHA loan-limit ceiling to help stabilize a shaky housing market. The national floor remains unchanged as well [...]