Happy Thanksgiving

 

“As we express our gratitude, we must never forget that the highest appreciation is not to utter words, but to live by them.” –John F. Kennedy

loan limits restored for FHA loans

Andover, MA

US House and Senate passed the restoration of the FHA Loan Limits last night. The bill also included a short term extension of NFIP (National Flood Insurance Program) through December 13.

 

The votes were 298-121 in the House and 70-30 in the Senate. Limits were restored to FHA only and not to Fannie & Freddie. Bill increases maximum size of an FHA-backed mortgage to $729,750. Flood insurance remaining active through extension. NAR expects a 5 year extension to pass in December.

Read more here  http://www.housingwire.com/2011/11/17/house-approves-higher-fha-conforming-loan-limits

Mark Gracy

Your real estate resource in the Merrimack Valley

www.GracyTeam.com

(978) 984-3107

Keller WIlliams Realty - Andover