
For homeowners in high-cost areas nationwide, conforming and FHA loan limits have dropped by as much as 14 percent. Effective October 1, 2011, the temporary mortgage loan limits that allowed for non-jumbo loan sizes of up to $729,750 are no longer. $729,750 is above the "normal" loan limit of $417,000. The elevated limits were put in place in 2008 as the economy and financial sector entered its crisis. At the time, there was little private money to serve buyers and would-be … [Read more...]
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