change in fha loan limits: change in FHA loan limits
- 08/24/11 01:29 PM
WASHINGTON – On October 1, 2011, the Federal Housing Administration (FHA) will implement new single-family loan limits as specified by the Housing and Economic Recovery Act of 2008 (HERA). As a result, FHA will reduce loan limits in the highest cost metropolitan areas of the country while limits would remain unchanged in most other parts of the nation. Read FHA’s mortgagee letter detailing the agency’s new loan limits. These new loan limits were scheduled to take effect in January of 2009 but continuing strains in credit markets led the Congress to delay implementation. The result has been nearly three years of … (2 comments)
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WASHINGTON – On October 1, 2011, the Federal Housing Administration (FHA) will implement new single-family loan limits as specified by the Housing and Economic Recovery Act of 2008 (HERA). As a result, FHA will reduce loan limits in the highest cost metropolitan areas of the country while limits would remain unchanged in most other parts of the nation. Read FHA’s mortgagee letter detailing the agency’s new loan limits.
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