Single Family Loan Limits have changed as a result of the American Recovery and Reinvestment Act of 2009 (ARRA). HUD has issued a new Mortgagee Letter outlining these provisions.
FHA Loan Limits
· Effective for those loans with Final Underwriting Credit Approval in Calendar Year 2009 and remain in effect until December 31, 2009, regardless of Case Number Assignment Date.
· 2009 loan limits have been revised and set to the higher of the loan limits established for 2008 or 2009 Housing Economic Recovery Act of 2008 (HERA).
· These loan limits are applicable to all Section 203(b) 1-4 Unit properties including condominiums, 203(h) and 203(k) mortgages.
Bay Count limit is $396,250 during this temp period.
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