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
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