Higher Loan Limits – Will It Help?
March 6th, 2008 // Categorized under: Mortgage News
As you may of heard, President Bush signed into law the "Economic Stimulus Act of 2008" on February 13th. In addition to several other benefits for consumers, it provides temporary conforming loan limit increases in high cost areas. The new temporary loan limit increase will be calculated by taking 125% of area median home values and adjust the loan limit accordingly. Currently, there are 30 MSA's (Metropolitan Statistical Area), half of which are in California. HUD has 30 days from when...continue reading...
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