announcing Thursday that it’s lowering loan-to-value requirements on cash-outs from 85% to 80%. In effect, the new rule will.
In Mortgagee Letter 19-01, released by the agency on Friday, FHA revises documentation requirements for the financial assessment. Executive Vice President of the National Reverse Mortgage Lenders.
FHA loan limits are the maximum allowed loan amount for Federal Housing Administration loans. FHA Loans are federally insured mortgages designed for middle- and working-class Americans. Because the loans are insured, lenders provide excellent rates for first time homeowners and those with poor or no credit history.