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Fannie Mae announces Permanent High-Cost Area Loan Limits

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ShanetheMortgageMan
Super Contributor

Fannie Mae announces Permanent High-Cost Area Loan Limits

https://www.efanniemae.com/sf/guides/ssg/annltrs/pdf/2008/0827.pdf

 

Talks about a new mortgage product ("high balance") which will be available in 2009.  This could be view as a replacement for the current conforming jumbo loan programs that they offer.  According to the info in the .pdf document, it appears that the new limit will be no more than $625k per the Housing & Recovery Economic Act (it was going to remain at $729,750 if it was just up to the Economic Stimulus Act).

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