New York FHA Mortgage Loans

New York FHA Lenders

New York FHA mortgage lenders use the following table to determine the maximum loan amount allowed to be insured by HUD on each and every FHA mortgage loan. The maximum loan calculations are for the year 2009. New York FHA mortgage lenders also use a calculation for determining the FHA mortgage insurance premium that every FHA loan must have. New York FHA loans allow for you to put down the minimum down payment of 3.5% of the sales price.

NY FHA lenders also allow for that down payment to be gifted to you from a family member, friend or someone with a close personal relationship. Contact one of our New York FHA lenders by filling out the form here to see what your options are. New York FHA lenders can provide you with all the answers to your questions regarding FHA loans in New York.

WhatisyourRate.com is not HUD, nor are we a lender. We connect you to the information you need when trying to find a FHA approved lender. We make recommendations to use certain FHA approved lenders in certain states, however whatisYourRate.com is not a lender just an information guide for choosing the correct FHA lender. Please investigate, do research and be thorough when trying to decide if an FHA loan makes sense for you.

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The CY2009 basic standard mortgage limits for FHA insured loans are:
	One-family	Two-family	Three-family	Four-family
FHA Forward	$271,050.00	$347,000.00	$419,425.00	$521,250.00
HECM	$625,500.00
HOPE for Homeowners	$550,440.00
Fannie/Freddie	$417,000.00	$533,850.00	$645,300.00	$801,950.00

High cost area limits are subject to a ceiling based on a percent of the Freddie Mac Loan limits The ceilings for CY2009 are:
	One-family	Two-family	Three-family	Four-family
FHA Forward	$729,750.00	$934,200.00	$1,129,250.00	$1,403,400.00
HECM	$625,500.00
Fannie/Freddie	$729,750.00	$934,200.00	$1,129,250.00	$1,403,400.00

Section 214 of the National Housing Act provides that mortgage limits for Alaska, Guam, Hawaii, and the Virgin Islands may be adjusted up to 150 percent of the new ceilings. This results in new CY2009 ceilings for these areas of:
	One-family	Two-family	Three-family	Four-family
FHA Forward	$1,094,625.00	$1,401,300.00	$1,693,875.00	$2,105,100.00
Fannie/Freddie	$1,094,625.00	$1,401,300.00	$1,693,875.00	$2,105,100.00

New York FHA Mortgage Loans

New York FHA Lenders

The CY2009 basic standard mortgage limits for FHA insured loans are:

High cost area limits are subject to a ceiling based on a percent of the Freddie Mac Loan limitsThe ceilings for CY2009 are:

Section 214 of the National Housing Act provides that mortgage limits for Alaska, Guam, Hawaii, and the Virgin Islands may be adjusted up to 150 percent of the new ceilings. This results in new CY2009 ceilings for these areas of:

Top FHA Lending States:

High cost area limits are subject to a ceiling based on a percent of the Freddie Mac Loan limits
The ceilings for CY2009 are: