expiration of conforming loan limits

[wannabe2077]

Does the conformaing loan limit revert to $417,000 on Jan 1st ?

[Eugene]

It does, unless the limit is extended, which is very likely to happen.

[Eugene]

It does, unless the limit is extended, which is very likely to happen.

[Eugene]

It does, unless the limit is extended, which is very likely to happen.

[Eugene]

It does, unless the limit is extended, which is very likely to happen.

[Eugene]

It does, unless the limit is extended, which is very likely to happen.

[madmoney]

I believe they have already modified/extended this. It won’t be $697,500 in San Diego anymore. The maximum for any high cost area in the country will be $625,500 in 2009. I’m not sure if you will be able to go up to that in San Diego County. Since there were higher maximums in places like LA this year at $729,750 vs a max of $697,500 in San Diego in 2008.

[madmoney]

I believe they have already modified/extended this. It won’t be $697,500 in San Diego anymore. The maximum for any high cost area in the country will be $625,500 in 2009. I’m not sure if you will be able to go up to that in San Diego County. Since there were higher maximums in places like LA this year at $729,750 vs a max of $697,500 in San Diego in 2008.

[madmoney]

I believe they have already modified/extended this. It won’t be $697,500 in San Diego anymore. The maximum for any high cost area in the country will be $625,500 in 2009. I’m not sure if you will be able to go up to that in San Diego County. Since there were higher maximums in places like LA this year at $729,750 vs a max of $697,500 in San Diego in 2008.

[madmoney]

I believe they have already modified/extended this. It won’t be $697,500 in San Diego anymore. The maximum for any high cost area in the country will be $625,500 in 2009. I’m not sure if you will be able to go up to that in San Diego County. Since there were higher maximums in places like LA this year at $729,750 vs a max of $697,500 in San Diego in 2008.

[madmoney]

I believe they have already modified/extended this. It won’t be $697,500 in San Diego anymore. The maximum for any high cost area in the country will be $625,500 in 2009. I’m not sure if you will be able to go up to that in San Diego County. Since there were higher maximums in places like LA this year at $729,750 vs a max of $697,500 in San Diego in 2008.

[j]

Yes, Congress extended the higher limit for higher priced markets like San Diego.

It is funny that they waited until higher limits really are not needed by the average buyer. For $400,000 you can get a decent home in many parts of the county. Add 20% making it 480,000, and you can get a good house, not a McMansion, but FHA is to help normal to lower income people, right?

[j]

Yes, Congress extended the higher limit for higher priced markets like San Diego.

It is funny that they waited until higher limits really are not needed by the average buyer. For $400,000 you can get a decent home in many parts of the county. Add 20% making it 480,000, and you can get a good house, not a McMansion, but FHA is to help normal to lower income people, right?

[j]

Yes, Congress extended the higher limit for higher priced markets like San Diego.

It is funny that they waited until higher limits really are not needed by the average buyer. For $400,000 you can get a decent home in many parts of the county. Add 20% making it 480,000, and you can get a good house, not a McMansion, but FHA is to help normal to lower income people, right?

[j]

Yes, Congress extended the higher limit for higher priced markets like San Diego.

It is funny that they waited until higher limits really are not needed by the average buyer. For $400,000 you can get a decent home in many parts of the county. Add 20% making it 480,000, and you can get a good house, not a McMansion, but FHA is to help normal to lower income people, right?

[Author]

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