About Government Refinance and Home Purchase Programs

Information and Updates on Government Mortgage Programs
Filed under Government Mortgage Financing Programs News

The economic stimulus package increased the FHA loan limits in most part of the country. In the most expensive areas of the country FHA loans can be up to $729,000 in 2008. But those limits expire at the end of 2008. The new maximum limits (as a result of the newly passed housing legislation) will range from $271,000 in lower cost areas to a maximum of $625,000. The limit is calculated by multiplying the median housing price in a county by 115%. (The conventional loan limits with Fannie Mae and Freddie Mac have the same upper limit but have a $417,000 low end no matter what the median housing price is in a county.)

See here to search current FHA loan limits by county.

Comments (0) Posted by G.R.A. Admin on Tuesday, August 19th, 2008

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