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loan limits: County-By-County: The 2009 "High-Cost" Conforming Loan Limits - 02/24/09 03:07 PM
As part of the stimulus package passed last week, Congress authorized a temporary increase to conforming loan limits in certain high-cost parts of the country.
"High cost" is defined by a regions' median sales price.
With the temporary increase, a greater share of Americans can now qualify for Fannie Mae- and Freddie Mac-backed loans, usually the least expensive source for mortgage money.
Higher loan limits can be good for the housing market and the broader economy for two reasons:
Cheaper money can spur new home demand, supporting home values. Higher loan limits render more homeowners refinance-eligible, freeing up cash for spending, saving, or investing. … (0 comments)

 

Ilyce N. Powell, CMPS™ - Certified Mortgage Planning Specialist

Baltimore, MD

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AmeriSave Mortgage Corp./ United First Financial

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