FHA...new loan limits are set to go into effect 10/1/11. The max loan limit for the tri-county area is being reduced from $353k to $274k.
VA...as of 10/1/11, the VA up front funding fee is being reduced. This means lower payments and savings for VA borrowers. Remember, VA is still 0% down payment and NO monthly
mortgage insurance. (Note: VA clients, this is a HUGE advantage for you right now!)
USDA...as of 10/1/11, USDA loans will reduce their up front funding fee BUT now have monthly mortgage insurance. Remember, USDA is also still 0% down payment.
Second home buyers...financing a second home purchase with just 10% down payment is now possible! Credit score of at least 620 is needed.
Information courtesy of my good friends at Security National Mortgage Company.