Grundy County FHA max loan limits

What Mortgage Programs Are Available to Veterans?

If you’re a veteran or a disabled veteran, what special programs for buying a home are available to you? If you served your country, you can take advantage of the Veterans Administration Loan Program that allows you to get 0% down on a home loan. In addition, there are other benefits with a VA loan, which will be described below. Funding Fee When setting up a Veterans Administration loan, a funding fee is attached to the mortgage. VA loans do not require mortgage insurance, as with typical mortgages when you put less than 20% down. However, there is a one-time funding fee that is added back into the mortgage. The amount of the funding fee depends on whether you were active duty, or served in the National Guard. However, if you are a considered a disabled veteran, this funding fee is waived and can save you money up front. Real…

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2017 FHA Chicago Area Max Loan Limits

This post has been updated for 2017 – Here are the Current FHA loan limits for the Chicago Area This is good news for home buyers who are buying larger homes or smaller apartment buildings (2 to 4 unit buildings), since it allows these buyers to purchase with just a low 3.5% down payment, and it the more lenient qualifying standards FHA offers. It is also good for the housing market in general because more qualified buyers means a stronger and more robust market. These are the max FHA loan limits here in the 6 county Chicago metropolitan area (Cook, Dupage, Lake, Kane, Will and Grundy Counties) Here is the table for the Chicago Metro Area: 1 unit $365,700 2 unit $468,150 3 Unit $565,900 4 Unit $703,250 The FHA max mortgage is determined on a county wide basis based on the areas median home values. In higher priced areas (mostly California) the…

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