Florida FHA Loan Limits are going DOWN for 2009

It is important for Florida Home buyers to know that Florida FHA loan limits are going down for 2009.  For 2008 Seminole County loan limits, it is a HUGE drop.  The new loan limits per county are as follows:

MSA Name	MSA Code	Division	County Name	County Code	State	One-Family	Two-Family	Three-Family	Four-Family	Last Revised	Limit Year
GAINESVILLE, FL (MSA)	23540		ALACHUA	001	FL	$271,050	$347,000	$419,425	$521,250	01/01/2009	CY2009
JACKSONVILLE, FL (MSA)	27260		BAKER	003	FL	$304,750	$390,100	$471,550	$586,050	01/01/2009	CY2009
PANAMA CITY-LYNN HAVEN, FL (MSA)	37460		BAY	005	FL	$271,050	$347,000	$419,425	$521,250	01/01/2009	CY2009
NON-METRO	99999		BRADFORD	007	FL	$271,050	$347,000	$419,425	$521,250	01/01/2009	CY2009
PALM BAY-MELBOURNE-TITUSVILLE, FL (MSA)	37340		BREVARD	009	FL	$271,050	$347,000	$419,425	$521,250	01/01/2009	CY2009
FORT LAUDERDALE-POMPANO BEACH-DEERFIELD BEACH, FL	33100	22744	BROWARD	011	FL	$345,000	$441,650	$533,850	$663,450	01/01/2009	CY2009
NON-METRO	99999		CALHOUN	013	FL	$271,050	$347,000	$419,425	$521,250	01/01/2009	CY2009
PUNTA GORDA, FL (MSA)	39460		CHARLOTTE	015	FL	$271,050	$347,000	$419,425	$521,250	01/01/2009	CY2009
HOMOSASSA SPRINGS, FL (MICRO)	26140		CITRUS	017	FL	$271,050	$347,000	$419,425	$521,250	01/01/2009	CY2009
JACKSONVILLE, FL (MSA)	27260		CLAY	019	FL	$304,750	$390,100	$471,550	$586,050	01/01/2009	CY2009
NAPLES-MARCO ISLAND, FL (MSA)	34940		COLLIER	021	FL	$448,500	$574,150	$694,000	$862,500	01/01/2009	CY2009
LAKE CITY, FL (MICRO)	29380		COLUMBIA	023	FL	$271,050	$347,000	$419,425	$521,250	01/01/2009	CY2009
ARCADIA, FL (MICRO)	11580		DE SOTO	027	FL	$271,050	$347,000	$419,425	$521,250	01/01/2009	CY2009
NON-METRO	99999		DIXIE	029	FL	$271,050	$347,000	$419,425	$521,250	01/01/2009	CY2009
JACKSONVILLE, FL (MSA)	27260		DUVAL	031	FL	$304,750	$390,100	$471,550	$586,050	01/01/2009	CY2009
PENSACOLA-FERRY PASS-BRENT, FL (MSA)	37860		ESCAMBIA	033	FL	$271,050	$347,000	$419,425	$521,250	01/01/2009	CY2009
PALM COAST, FL (MICRO)	37380		FLAGLER	035	FL	$271,050	$347,000	$419,425	$521,250	01/01/2009	CY2009
NON-METRO	99999		FRANKLIN	037	FL	$271,050	$347,000	$419,425	$521,250	01/01/2009	CY2009
TALLAHASSEE, FL (MSA)	45220		GADSDEN	039	FL	$271,050	$347,000	$419,425	$521,250	01/01/2009	CY2009
GAINESVILLE, FL (MSA)	23540		GILCHRIST	041	FL	$271,050	$347,000	$419,425	$521,250	01/01/2009	CY2009
NON-METRO	99999		GLADES	043	FL	$271,050	$347,000	$419,425	$521,250	01/01/2009	CY2009
NON-METRO	99999		GULF	045	FL	$271,050	$347,000	$419,425	$521,250	01/01/2009	CY2009
NON-METRO	99999		HAMILTON	047	FL	$271,050	$347,000	$419,425	$521,250	01/01/2009	CY2009
WAUCHULA, FL (MICRO)	48100		HARDEE	049	FL	$271,050	$347,000	$419,425	$521,250	01/01/2009	CY2009
CLEWISTON, FL (MICRO)	17500		HENDRY	051	FL	$271,050	$347,000	$419,425	$521,250	01/01/2009	CY2009
TAMPA-ST. PETERSBURG-CLEARWATER, FL (MSA)	45300		HERNANDO	053	FL	$271,050	$347,000	$419,425	$521,250	01/01/2009	CY2009
SEBRING, FL (MICRO)	42700		HIGHLANDS	055	FL	$271,050	$347,000	$419,425	$521,250	01/01/2009	CY2009
TAMPA-ST. PETERSBURG-CLEARWATER, FL (MSA)	45300		HILLSBOROUGH	057	FL	$271,050	$347,000	$419,425	$521,250	01/01/2009	CY2009
NON-METRO	99999		HOLMES	059	FL	$271,050	$347,000	$419,425	$521,250	01/01/2009	CY2009
SEBASTIAN-VERO BEACH, FL (MSA)	42680		INDIAN RIVER	061	FL	$271,050	$347,000	$419,425	$521,250	01/01/2009	CY2009
NON-METRO	99999		JACKSON	063	FL	$271,050	$347,000	$419,425	$521,250	01/01/2009	CY2009
TALLAHASSEE, FL (MSA)	45220		JEFFERSON	065	FL	$271,050	$347,000	$419,425	$521,250	01/01/2009	CY2009
NON-METRO	99999		LAFAYETTE	067	FL	$271,050	$347,000	$419,425	$521,250	01/01/2009	CY2009
ORLANDO-KISSIMMEE, FL (MSA)	36740		LAKE	069	FL	$274,850	$351,850	$425,300	$528,550	01/01/2009	CY2009
CAPE CORAL-FORT MYERS, FL (MSA)	15980		LEE	071	FL	$271,050	$347,000	$419,425	$521,250	01/01/2009	CY2009
TALLAHASSEE, FL (MSA)	45220		LEON	073	FL	$271,050	$347,000	$419,425	$521,250	01/01/2009	CY2009
NON-METRO	99999		LEVY	075	FL	$271,050	$347,000	$419,425	$521,250	01/01/2009	CY2009
NON-METRO	99999		LIBERTY	077	FL	$271,050	$347,000	$419,425	$521,250	01/01/2009	CY2009
NON-METRO	99999		MADISON	079	FL	$271,050	$347,000	$419,425	$521,250	01/01/2009	CY2009
BRADENTON-SARASOTA-VENICE, FL (MSA)	14600		MANATEE	081	FL	$285,200	$365,100	$441,300	$548,450	01/01/2009	CY2009
OCALA, FL (MSA)	36100		MARION	083	FL	$271,050	$347,000	$419,425	$521,250	01/01/2009	CY2009
PORT ST. LUCIE-FORT PIERCE, FL (MSA)	38940		MARTIN	085	FL	$316,250	$404,850	$489,350	$608,150	01/01/2009	CY2009
MIAMI-MIAMI BEACH-KENDALL, FL METROPOLITAN DIVISIO	33100	33124	MIAMI-DADE	086	FL	$345,000	$441,650	$533,850	$663,450	01/01/2009	CY2009
KEY WEST-MARATHON, FL (MICRO)	28580		MONROE	087	FL	$529,000	$677,200	$818,600	$1,017,300	01/01/2009	CY2009
JACKSONVILLE, FL (MSA)	27260		NASSAU	089	FL	$304,750	$390,100	$471,550	$586,050	01/01/2009	CY2009
FORT WALTON BEACH-CRESTVIEW-DESTIN, FL (MSA)	23020		OKALOOSA	091	FL	$271,050	$347,000	$419,425	$521,250	01/01/2009	CY2009
OKEECHOBEE, FL (MICRO)	36380		OKEECHOBEE	093	FL	$271,050	$347,000	$419,425	$521,250	01/01/2009	CY2009
ORLANDO-KISSIMMEE, FL (MSA)	36740		ORANGE	095	FL	$274,850	$351,850	$425,300	$528,550	01/01/2009	CY2009
ORLANDO-KISSIMMEE, FL (MSA)	36740		OSCEOLA	097	FL	$274,850	$351,850	$425,300	$528,550	01/01/2009	CY2009
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL METRO	33100	48424	PALM BEACH	099	FL	$345,000	$441,650	$533,850	$663,450	01/01/2009	CY2009

TAMPA-ST. PETERSBURG-CLEARWATER, FL (MSA)	45300		PASCO	101	FL	$271,050	$347,000	$419,425	$521,250	01/01/2009	CY2009
TAMPA-ST. PETERSBURG-CLEARWATER, FL (MSA)	45300		PINELLAS	103	FL	$271,050	$347,000	$419,425	$521,250	01/01/2009	CY2009
LAKELAND, FL (MSA)	29460		POLK	105	FL	$271,050	$347,000	$419,425	$521,250	01/01/2009	CY2009
PALATKA, FL (MICRO)	37260		PUTNAM	107	FL	$271,050	$347,000	$419,425	$521,250	01/01/2009	CY2009
PENSACOLA-FERRY PASS-BRENT, FL (MSA)	37860		SANTA ROSA	113	FL	$271,050	$347,000	$419,425	$521,250	01/01/2009	CY2009
BRADENTON-SARASOTA-VENICE, FL (MSA)	14600		SARASOTA	115	FL	$285,200	$365,100	$441,300	$548,450	01/01/2009	CY2009
ORLANDO-KISSIMMEE, FL (MSA)	36740		SEMINOLE	117	FL	$274,850	$351,850	$425,300	$528,550	01/01/2009	CY2009
JACKSONVILLE, FL (MSA)	27260		ST. JOHNS	109	FL	$304,750	$390,100	$471,550	$586,050	01/01/2009	CY2009
PORT ST. LUCIE-FORT PIERCE, FL (MSA)	38940		ST. LUCIE	111	FL	$316,250	$404,850	$489,350	$608,150	01/01/2009	CY2009
THE VILLAGES, FL (MICRO)	45540		SUMTER	119	FL	$271,050	$347,000	$419,425	$521,250	01/01/2009	CY2009
NON-METRO	99999		SUWANNEE	121	FL	$271,050	$347,000	$419,425	$521,250	01/01/2009	CY2009
NON-METRO	99999		TAYLOR	123	FL	$271,050	$347,000	$419,425	$521,250	01/01/2009	CY2009
NON-METRO	99999		UNION	125	FL	$271,050	$347,000	$419,425	$521,250	01/01/2009	CY2009
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (MSA)	19660		VOLUSIA	127	FL	$271,050	$347,000	$419,425	$521,250	01/01/2009	CY2009
TALLAHASSEE, FL (MSA)	45220		WAKULLA	129	FL	$271,050	$347,000	$419,425	$521,250	01/01/2009	CY2009
NON-METRO	99999		WALTON	131	FL	$325,450	$416,600	$503,600	$625,850	01/01/2009	CY2009
NON-METRO	99999		WASHINGTON	133	FL	$271,050	$347,000	$419,425	$521,250	01/01/2009	CY2009

The Truth about predicting Orlando Mortgage Rates

Weeeeeee……

Not only is that what the snail said as he hitched a ride on the back of a turtle, [laugh, that is as funny as it gets] but it is what most of us are saying about these market dips and jumps! It’s important to remember that markets are unpredictable and nobody knows what will happen tomorrow.

Unfortunately, that doesn’t stop the ‘experts’ from trying.

An obvious example comes from back in May. As oil crossed the $120 per barrel mark [eventually arriving at $147…ouch…] a Goldman Sachs ‘expert’ was quoted as saying that $200 oil was “likely”.

Well, at that time it seemed logical, did it not?

A mere 5 months later, that seems downright laughable. Oil is off by more than 40% since that day. “Well, that is a unique case, Chris.” Huh… wanna bet? There are hundreds of examples just like this one.

Every day, economic experts and analysts are on television, pontificating to us about what’s going to happen:

• They tell us when housing prices will bottom out
• They tell us when stock markets will rebound for good
• They tell us what the economy will do over the next 12 months

But none of them operate with the proverbial crystal ball — it’s all on “gut”. But, I guess I cut them a little slack… I mean, after all, in a world of 24-hour news… they gotta have someone say something new don’t they. Oh, the monster we have created! ROFL

Want another example you say? [Herb, they want another example…] How about today’s CNNMoney.com. In the after math of the govt’s financial ‘response’, a mortgage analyst predicts 7% interest rates over the next 6 months. This would represent a 1.5% increase from recent lows. I guess it is possible, but not ‘likely’ [Oops, i just did it, geez.] Orlando FHA loans have been low too.

Anyway, the rate prediction may be accurate, but it may not. When will we know? In, say, about 6 months i reckon!

But what we know today, though, is that Orlando mortgage rates are all over the place — just like the stock market. One day up, another day down. And nobody knows what they’ll do tomorrow.

Predicting the future has always been an inexact science… maybe art would be a better word… but that won’t stop the ‘experts’ from trying. And the experts are wrong as often as anybody else.

That all being said, my ‘expert’ opinion [don’t worry… the irony is not lost on me] is to not let market conditions trump your personal conditions. Logically, we ALL should be buying Orlando real estate right now… buy low – sell high, right? But the truth is, our personal finances are a very emotional issue… not a logical one. To think otherwise would be foolhardy. If the time is right to buy a house for you… buy one and feel fortunate that the housing gods* are in alignment with you. If it is not the right time for you, don’t do something foolish just because the deals are everywhere!

Just my .02 =0)

Chris

*for the record, I am a Christian and do not believe in said ‘housing gods’… but rather one sovereign God. This statement is made for the entertainment value to the reader. Do not sue me.

Bad Credit? Orlando Credit Repair made accessible…

As an Orlando mortgage broker that has weathered the storm of the mortgage meltdown, I have unique insight on the need for bad credit repair in today’s “New World” of Orlando real estate financing. As the mortgage ‘box’ has gotten smaller and smaller, something simply needs to be done to keep people in a position where they can get into homes.

Lenders have increased score requirements [at least for the time being], so how do these masses of people qualify for homes in the short term?

The answer, ethical Credit Repair! As a licensed mortgage broker, I had always distanced myself from credit repair because I felt that it was

• A rip-off and a waste [or even worse, illegal]

• Going to cost the consumer $3000!

Neither of these options were acceptable to me. The rip-off was out for obvious reasons, and the cost of $3000 wouldn’t work because in most cases, if they had $3000… they wouldn’t be in the scenario they were in! Hello…

That is where FLCreditFix.com came in. After doing some digging around, I found a place that is quite reasonable in their service offering and I have seen some pretty spectacular credit repair results.

Now, no one can guarantee that any one item will be taken off your credit report… but Florida Credit Fix, through their affiliation with Fix Credit Biz, does guarantee their service so if you do not see a significant improvement in your credit… you get your money back. 100% Refund if your Bad Credit isn’t improved upon.

As a Mortgage professional, it became somewhat of a no-brainer in order to be able to help people get back into the mix and get decent terms on a mortgage again.

When you couple Credit Repair with Orlando FHA Loans, people are simply able to get back into the housing market and buy a beautiful home again.

Chris

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Written by Chris Brown, an Orlando Loan Officer. For more information about purchase loans or refinances on primary residences or investment properties, please contact me directly @ 407-377-0500 x 210.