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What The New Loan Limits Will Be In Solano, Contra Costa & The Rest Of The U.S.
February 15th, 2009 categories: Contra Costa, Loans / Financing, Solano, The Economy
As I wrote the other day (click here), the Stimulus Bill that should be signed into law on Tuesday by President Obama will raise conforming (Freddie Mac, Fannie Mae) and FHA loan limits to what they were at the end of 2009.
For Solano County, that means both the FHA and Conforming ceilings will go up to $557,500. Since Jan. 1, they had been at $400,200 and $417,000 respectively.
In Contra Costa County, the limits will go from $625,500 to $729,750.
The new limits will mean an opportunity for buyers to obtain conventional and FHA financing on homes priced between the old loan limits and the new ones.
Our National Assn. of Realtors has prepared a table showing the new maximum limits for every county in the U.S. These limits aren’t official yet and won’t be until HUD publishes them (which should happen very soon after the bill is signed into law).
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