If you are considering applying for a FHA refinance program online, it could be important for you to know the changes that have been effected to FHA provided home refinancing loans. The Federal Housing Administration (FHA) has announced certain amendments that relate to refinance mortgage loan limits. The new limits could affect some expensive housing markets within the United States and hence, in case you are out to apply for FHA home refinance loans, you need to have complete information and understanding about the latest announcements made by the nation’s premier housing policy regulatory body. This could allow you to check out your eligibility for FHA home mortgage refinance programs with a much better degree of precision.     

Refiannceitt offers professional services online to guide borrowers in securing highly customized FHA refinance mortgage loans which work best for their specific financial situations regardless of the existing status of their credit histories.

The Federal Housing Administration has reduced refinance home loan limits as per press release dated 19th August, 2011. As per the new rules and regulations, for getting a FHA home loan refinance in a specified costly area, the prescribed new limits for unpaid mortgage loan balances on single unit homes in certain high cost areas of the nation would get substantially lowered because of continuing ongoing strains in credit markets. However, there would be no change in refinancing limit for homes located in most of the other parts of the country where housing prices are relatively low, the lower end for which remains $ 271,050 for one unit home.       

The new limits for availing a refinance home mortgage loan with the FHA for a single unit home in a higher cost area now stands at $ 625.500 instead of $ 729,750. Remember, limit for FHA provided refinance home loans could vary according to the area based median home price but in any case, all these prices would be within the range of $271,050 and $625,500 for single unit homes. The limits, which have already become effective from 1st October, 2011, are most likely to affect applicants across 669 counties out of totally 3234 counties in the country. Hence, borrowers need to make sure that their FHA case numbers have been registered before 1st Oct, 2011. 

Refiannceitt could actively assist you to find the best FHA mortgage refinance company online for your peculiar credit circumstances through a process that is simple, easy and hassle free. In addition, you could be helped to secure a solution which is very much affordable as well as favorable to cater to your unique financial needs and requirements.