What are the new FHA Loan limits in your county?
March 7th, 2008 Categories: Maryland Real Estate News
Well, the Economic Stimulus Package of 2008 that the president and congress brought forth is finally getting some steam up. Yesterday the FHA announced their temporary loan limits for the nation.
According to the Federal Housing Administration, the Stimulus Act will provide much needed liquidity and stability to housing markets across the country by providing access to safe and affordable loans for more families.
The FHA has been filling the void from the credit crunch experienced most by the conventional sources of mortgages. They estimate that the law will give nearly 240,000 additional homeowners a safer more affordable mortgage as well as strengthen all communities. The loan limits are temporary though, and are expected to expire in January of 2009.
Here are our Local Numbers:
Howard County
- One Unit Loan: $560,000
- Two Unit Loan: $716.900
- Three Unit Loans: $866.550
- Four Unit Loans: $1,076,950
Carroll County
- One Unit Loan: $560,000
- Two Unit Loan: $716.900
- Three Unit Loans: $866.550
- Four Unit Loans: $1,076,950
Anne Arundel County
- One Unit Loan: $560,000
- Two Unit Loan: $716.900
- Three Unit Loans: $866.550
- Four Unit Loans: $1,076,950
Baltimore County
- One Unit Loan: $560,000
- Two Unit Loan: $716.900
- Three Unit Loans: $866.550
- Four Unit Loans: $1,076,950
New Fannie Mae loan limits are due as well and will be reported once I get the final word. As usual, if you have any questions, or need to be connected with a great loan professional, please give me a call.
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