2008-03-06wsj.com

More than 70 counties across the U.S. will see limits for mortgage loans backed by Fannie Mae and Freddie Mac rise to $729,750 -- the new maximum limit set by the economic stimulus bill, the Federal Housing Administration announced today...

New limits were also released for FHA-backed loans. The highest limit for those loans is also $729,750, while the minimum ceiling -- the maximum loan allowed in lower priced areas -- is now $271,050. The agency estimated that the FHA increase could benefit nearly 250,000 families across the country.

See BlownMortgage for a table of new FHA loan limits for California.


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