HUD Announces New FHA and Agency 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. 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.Also, stay tuned for new Stimulus Package tools to be announced in
This Week. Make it a great week!
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