Wednesday, October 8, 2008
FHA Jumbos Finance Homes in Fairfax Station, Virginia
Fairfax Station, in Fairfax County Virginia has single family homes with median sale prices approaching $800,000. It is rare to see FHA mortgages used to finance homes in this community. Prior mortgage loan amount limits for FHA mortgages made them useless in Fairfax Station. Things are different now! FHA mortgage loan amount limits are $729,750 for the remainder of this year for homes in Fairfax Station. The chart shows the mortgage lenders originating FHA mortgages on homes in Fairfax Station. Now FHA mortgages are financing home purchases or refinancing existing mortgages in markets where conventional jumbos were the only way to go.