Zac Hill

FHA Loan Limits

03-09-09

The FHA loan limits have increased to $295,000 for a single family home in Marion and Polk counties. This new level of $295,000 is a return to the limit established last year in the Economic Stimulus Act. The limits were previously $271,050.

FHA loans have more flexibly underwriting guidelines than conventional loans and require less of a down payment. I'm hopeful that these new limits in conjunction with the $8,000 first-time homebuyer tax credit will stimulate activity in our housing market.

You can check the FHA loan limits for any county on the HUD website here.

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Zac Hill
Resident Lending Group, Salem, OR

Office: (503) 589-1999

Mobile: (503) 269-8199

As a mortgage broker in Salem, OR I'm licensed to originate loans anywhere in Oregon. I specialize in helping people understand the mortgage process along with understanding and improving credit.

Who am I?

Philosophy:
I believe it is critical that our mortgage fits our personal values and our short and long-term financial goals. People should be educated in the mortgage process and feel comfortable with the product and terms they agree to. People assume that a loan officer simply provides a loan when in reality they provide so much more, like being educated about the product options a client has or being able to access them as a resource even after the loan closes, which is why I strive so hard to build trust with my clients.

To achieve this I have used the following principles to model how I interact with my clients:

1. Value them
2. Listen to them
3. Be accessible to them
4. Make sure they are not surprised at the closing table
5. Conduct myself professionally with integrity

When I bought a home early in my life I sat down at the closing table only to discover that the terms of the loan were drastically different than the terms my wife and I had agreed to with our loan officer four weeks prior. It was a Friday afternoon and we wanted the keys to our new home and our sellers wanted the keys their new home for the weekend. According to his office, my loan officer was not available. We didn't know what to do. This was the largest financial transaction of my life and I felt like I was without a resource.

I refuse to let this happen to one of my clients. They have my cell phone number so that I am reachable when they need me. There are no surprises for them at the closing table because I am sitting there with them as they sign, standing by the work I've done.

Passions:
Helping people and being an engaged and contributing member of my community.

Specialties:
Conventional, FHA, VA, reverse mortgages, construction-to-permanant, private or hard money, and helping people understand and improve their credit.

Where am I?

On the web:

LinkedIn
Biznik
Salem Chamber Face2Face

Organizations I'm a member of:

Salem Chamber of Commerce Young Professionals
West Salem Rotary
West Salem Business Association

What are they saying about me?

"This was the third mortgage we have set up and it was by far the best service of any. Zac was outstanding."
-Don & Gail

"Zac Hill was a great loan officer. He made the process easy for a first-time homebuyer. We were extremely pleased with Resident Lending Group, and our experience could not have been better."
-Mark & Jennifer

"Mr. Hill is very knowledgeable and did a great job preparing and explaining the mountain of paperwork. Thanks for a job well done."
-Orland & JoAnne