ARCS Mortgage Offers FHA Quake-Damage Loans
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ARCS Mortgage Inc., a Calabasas mortgage lender, said it is offering Federal Housing Administration mortgage loans to owners and renters of uninhabitable earthquake-damaged properties in Los Angeles, Ventura and Orange counties.
The loans have the new higher limits and flexible qualifying guidelines of the FHA’s Earthquake Loan Program, which is administered by the federal Department of Housing and Urban Development. The program temporarily raises loan limits to $203,150 until Dec. 17, and offers 100% new financing and low interest rates.
ARCS is a subsidiary of the Bank of New York Co.
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