Congress and President Obama approved a measure today to raise the high cost loan limit for FHA loans from $625,5000 to its previous ceiling of $729,750. This means that homeowners in high cost areas can once again be eligible for larger size loans and enabling them to purchase homes while not having to bring in […]
Tag Archive | "temporary loan limits"
Temporary loan limits were enacted as part of the economic stimulus package in 2008 to help homeowners in high-cost areas that were unable to get loans for more than $417,000 under the standard conforming loan limits regardless of their payment history, credit and income. Homeowners in areas such San Francisco, New York and Los Angeles […]