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Mortgage News

Good news for buyers using FHA loans! The U.S. House and Senate restored FHA loan limits to the level they were at before they were allowed to expire at the end of September. As a result, the limits will rise to 125% of the area median home price from 115% up to a maximum of $729,750, from $625,500. “The reinstated loan limits will help provide much needed liquidity and stability to communities nationwide as tight credit restrictions continue to prevent some qualified buyers from becoming home owners and the housing market recovery remains fragile,” said NAR President Moe Veissi.

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