FHA Loan Limits Increase! Governator Wants You to Close More Loans.

Yesterday, the FHA raised the limits on mortgages it guarantees. In a move that could help thousands of homeowners out here in California, the cap was increased from a former limit of $362,790, to a new high of $729,750 in certain parts of the state.

What does this mean to mortgage lead buyers? First off, it means that your pool of potential loans just got much larger. It also means that you can exercise some flexibility in your LTV cap, loan amounts and credit grades. Quite simply, it means that a lot of leads which were "no good" yesterday suddenly look very attractive!

Today is a great day to re-visit any borderline borrowers who you were unable to help over the past several months. Thanks to the new FHA programs, you may now be able to help them.

With our March-Mega Lead Madness promotion in full swing, it's also a great time to jump back into working leads in a big way. There is a ton of opportunity out there with the new FHA limits.

Even the Governator agrees! As Gov. Arnold Schwarzenegger said in prepared remarks, the new FHA limits “will help more working Californians achieve the American dream of homeownership through less expensive and more secure loans.”

Homeowners need your help. Now get out there and close more loans!