Higher Mortgage Loan Limits

Higher Fannie Mae, Freddie Mac & FHA mortgage loan limits were set temporarily higher as part of the economic stimulus and recovery initiative. These currently higher limits are due to expire and revert back to the previous lower limits at the end of this year (2009). This week Congress approved a resolution extending the higher loan limits through 2010.



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The resolution, which needs the presidents signature, extends the present loan limits for FHA, Fannie and Freddie through the 2010 calendar year at 125 percent of local median home sales prices, up to a maximum of $729,750 in high-cost areas. The floor for FHA is $271,050; the floor for Fannie Mae and Freddie Mac conforming loan limits is $417,000.

For local median home sale prices in Southeast Florida call me at 561-306-6736 or email rebuygeorge@yahoo.com