Stimulus Bill Includes Boosting Conforming Loan Limits
Posted by Clay on February 12th, 2008
President Bush on Monday signed off on the $170 billion stimulus packaged approved by Congress last week, which, in addition to tax rebates for millions of working Americans and business owners, includes a vital, but temporary increase in the conforming loan limit.
The economic stimulus package will allow the Federal Housing Administration, as well as Fannie Mae and Freddie Mac to offer mortgages above the current conforming loan limit of $417,000 to as high as $729,750 in high-cost areas for loans originated between July 1, 2007 and Dec. 31, 2008.
Clay MADISEN is a full time real estate broker and REALTOR® with 18 years of experience in the San Diego market.
