High balance loan limits are back up to $729,750
Posted on March 3rd, 2009 by domi
Good news for you buyers out there: The loan limits for Fannie Mae, Freddie Mac and FHA loan guarantee programs, which were bumped back down to $625,500 in high-cost areas on Jan. 1, were restored to the temporary $729,750 - approved by Congress a year ago in the Economic Stimulus Act of 2008 - courtesy of the Stimulus bill that was recently passed.
Loans up to this amount should start to originate starting beginning of March. This is of course a good step forward for Santa Clara, San Mateoa and San Francisco counties which will all max out at this level.
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