Comments on: Loan Limits Become Complex in 2009 http://www.fhaloanpros.com/2008/11/variable-mortgage-limits-now-set-for-2009/ The Unofficial Guide to FHA Loans & Mortgages Sun, 08 Nov 2009 03:04:04 +0000 http://wordpress.org/?v=2.6 By: s2kreno http://www.fhaloanpros.com/2008/11/variable-mortgage-limits-now-set-for-2009/#comment-52411 s2kreno Tue, 19 May 2009 19:26:07 +0000 http://www.fhaloanpros.com/?p=685#comment-52411 Okay, now I'm really confused. Could a borrower who doesn't qualify under HARP because the original loan was a jumbo (not Fannie or Freddie, he's sure)refinance under FHA? He has about 15% equity but are there any places now where FHA limits would exceed Fannie / Freddie limits? I did advise him to check makinghomeaffordable.com to see if his DTI would make him eligible for a modification. The guy has a perfectly good 5/1 hybrid but is unnerved about an impending ARM conversion. No credit problems either. Okay, now I’m really confused. Could a borrower who doesn’t qualify under HARP because the original loan was a jumbo (not Fannie or Freddie, he’s sure)refinance under FHA? He has about 15% equity but are there any places now where FHA limits would exceed Fannie / Freddie limits?

I did advise him to check makinghomeaffordable.com to see if his DTI would make him eligible for a modification. The guy has a perfectly good 5/1 hybrid but is unnerved about an impending ARM conversion. No credit problems either.

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