Real estate blog entries tagged with new lending limits by Bryan Quinn (Eagle Nationwide Mortgage Company)

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Home : Blogs : Bryan Quinn : Bryan Quinn's Blog : Tag "new lending limits"

new lending limits: The New Economic Stimulus Act - 02/14/08 08:03 PM

The Economic Stimulus Act of 2008 is a $168 billion plan intended to jumpstart the sliding U.S. economy. While a lot of media attention has been focused on the $600-$1,200 rebate checks that millions of taxpayers will begin receiving this spring, the new bill is also designed to help certain "high-cost regions" of the struggling housing market by:
1. Temporarily increasing the "conforming loan limit" from $417,000 to as high as $729,750 in specified areas;
2. Temporarily increasing the size of loans the Federal Housing Administration (FHA) can insure from $362,000 to as high as $729,750 in specified areas.
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Bryan Quinn

Spokane, WA

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