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H.R. 5140 — Increased Loan Limits
More than a week early,
the Department of Housing and Urban Development (HUD) released the new FHA
and GSE (Fannie/Freddie) loan limits for 2008 today.
The new loan limits for
the entire country can be accessed from HUD's
website.
To filter your search results, go to the Limit Type drop-down box and select
FHA, Fannie/Freddie, or HECM and click send.
Authorized by The Economic
Stimulus Act of 2008, which was signed into law on February 13, 2008, the
new FHA limit is based on 125% increase of each county's median price, with
a minimum of $271,050 and a maximum of $729,750. The increased Fannie Mae
and Freddie Mac loan limit follows the same formula, with a minimum of
$417,000 and a maximum of $729,950. For the most part, these numbers are the
same as the FHA limits except in lower-cost counties, where the
Fannie/Freddie limits will be higher. |
