New FHA & Conforming Loan Limits

Under the Economic Stimulas Act of 2008, FHA and conforming loan limits are set at 125% of area median home prices as determined by HUD. 

Higher loans limits should draw many “move-up” buyers into the market since they will be able to get better loan terms.

If you have been looking to move up into a larger or nicer home, now is the time to do so.  Loan limit increases, asking price decreases, willing lenders, and the potential for bargains in negotiations makes it a great time to buy or buy up. 

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