Wisconsin, Illinois, Minnesota and Florida Mortgage Bankers

GET YOUR CASE NUMBER’S ASSIGNED BY APRIL 1, 2009 FOR FHA CASH OUT REFINANCES!

For all case numbers assigned after 4/1/09 the maximum LTV will be 85%.

Per FHA: Given the continued deterioration in the housing market, and FHA’s need to limit its exposure to undue risk, this reduction to the maximum LTV for cash-out refinances is being instituted on a temporary basis while FHA further analyzes the housing and mortgage industry as well as its own portfolio to determine whether permanent measures should be taken.

If you are interested in a 95% FHA cash out refinance, contact me and we can get an FHA case number assigned to your propery. As a reminder two appraisals will still be required for all cash out refinances over 85% and with case numbers assigned on or before 04/01/2009.

Your local Wisconsin and Illinois FHA mortgage banker: