Obama signs extension for higher FHA loan limits

Obama signs extension for higher FHA loan limits. By Edmund In Mortgage Brokers. Contents Higher fha loan limits government spending bill friday morning effectively homebuying experience easier. Fha lending limits Congress has voted to extend higher loan limits.

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The extension of current income-tax rates gives wealthy taxpayers the equivalent of an interest-free loan if they. Democrats wanted to limit the tax cut extension to the first $250,000 of family.

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President Barack Obama on Friday signed a bill to reinstate higher loan limits for mortgages insured by the Federal Housing Administration, less than two months after the limit had been reduced.

The higher FHA limit is expected to become law after the president signs the spending. the measure for Obama’s signature. The provision was once again cited by several Republicans as a reason for.

The higher Fannie Mae, Freddie Mac, and FHA conforming loan limits of $729,750 expired Oct. 1, when it was reduced to $625,500. The passage of H.R. 2112 provides for an extension of FHA-insured mortgages at the higher level of $729,750 in high cost areas, including Los Angeles and Orange counties, through December 2013.

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There are definitely signs that something’s brewing: *Total applications for FHA-insured. mortgage limits, it would be a serious impediment for future buyers and the economy." Chappelle’s concern.

Even though it was known as the housing bill, legislation signed into law by President Barack Obama this week accomplished another. set to expire at the end of this year. The extension of the.

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If you are contemplating an FHA loan on your first home, there's never been a. ( President Obama has signed off on the bill approving of the extension of the. with their incomes-you have a higher income limit in these cases.