Loan limits increased for FHA, Fannie Mae and Freddie Mac

The new FHA and Fannie Mae- Freddie Mac conforming loan limits have been released by the U.S. Department of Housing and Urban Development.
By: Jason Thoele / Watson Touchstone
 
March 6, 2008 - PRLog -- To find out the new limits in your area, simply click on this link: https://entp.hud.gov/idapp/html/hicostlook.cfm, which will take you to the "mortgage limits" page at the HUD web site. On that page, enter your state and county information, chose the type of loan from the "Limit Type" drop-down box (FHA Forward, Fannie/Freddie or HECM). [Note: FHA Forward is what HUD is calling the temporary FHA loan limit.] Then click the "send" button at the bottom of the page. On the results page, you'll see the new loan limit for the type of loan you selected for your area. You can also find a county-by-county listing of the new FHA and Fannie Mae-Freddie Mac loan limits at REALTOR.org by following this link:
http://www.realtor.org/GAPublic.nsf/files/chart_hud_loan_limits_08.pdf/$FILE/chart_hud_loan_limits_08.pdf

The new loan limits for FHA and Fannie Mae and Freddie Mac are now calculated at 125 percent of the HUD published median prices, with a floor of $271,050 and $417,000, respectively, not to exceed $729,750.

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About Author

I am a Real Estate Agent proudly serving Kern County. Please visit my website, www.jasonthoele.com to search the MLS and find your dream home in Arvin, Bakersfield, Delano, Lamont, Shafter, Taft, Tehachapi and Wasco. I am a proud member of the BAofR (Bakersfield Association of REALTORS), CAR (California Association of REALTORS and NAR (National Association of Realtors). I have been in the Real Estate business for approximately 7 years buying and selling homes here in Bakersfield.

Website: www.jasonthoele.com
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