There's good news for VA and FHA buyers in 2009. Loan limits for VA loans haven't changed. And even though FHA loan limits for high-cost areas have dropped from last year, so have home prices. That means it's not too late to take advantage of these low-interest loans offered with low, or even no, down payment.

Call the mortgage experts at Pardee Home Loans today for your best options.

FHA Loans as low as 5% with 3.5% down

• Conforming loan limits between $287,500 and $625,500, depending on location
• Minimum down payment of just 3.5%
• Flexible credit and income qualifying guidelines
• Debt ratios to 43%
• Non-traditional credit allowed for FHA loans (credit verified by rent payments, utility payments, insurance payments, etc.)
• Non-occupying co-borrowers are allowed on FHA loans (family relationship must be established)
• FHA loans are assumable to qualified buyers
• No pre-payment penalties

• Conforming loan limits between $417,000 and $729,750, depending on location
• No down payment for VA loans under $417,000
• For loans above $417,000, a 25% down payment is required only on the amount above $417,000
• Guaranteed loan amounts up to $1,000,000
• Lower monthly payments possible by extending the loan's maturity date