Friday, November 6, 2009

Conforming Loan Limits Extended

Late last week President Obama signed a continuing resolution that, among other things, extended the $729,750 FHA, Fannie Mae and Freddie Mac conforming loan limits through December 31, 2010.

Maintaining the $729,750 limit makes home ownership more affordable for thousands of home buyers because borrowers do not have to pay the higher interest rates typically associated with "jumbo" non-conforming loans.

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