Delaware FHA Loan Limits Raised by American Recovery Bill of 2009
February 24th, 2009 by John Thomas
The American Recovery and Reinvestment Act of 2009 was passed last Tuesday and part of the bill reinstated the higher Delaware FHA loan limits of 2008. The Delaware FHA loan limits for 2009 were raised as follows;
New Castle County $420,000 Previous – ($376,000)
Kent County $417,000 Previous – ($271,050)
Sussex County $417,000 Previous – ($312,000)
The loan limit has significantly increased in Kent County. If you are looking to take advantage of the higher loan limits, please feel free to call me at 302-368-7132 or send me an e-mail to DelawareMortgages@yahoo.com to see if you qualify.
You can take up to 95% cash-out with an FHA refinance and can borrower up to 97.75% on an FHA rate and term refinance. You only need 3.5% down-payment for an FHA purchase loan. There are no income limits for FHA loans.
John R. Thomas – Certified Mortgage Planner – Primary Residential Mortgage, Inc.
I am a Delaware native who has been actively involved in the Mortgage and Finanace industries for over 10 years. Call me at 302-703-0727
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