Today the Office of Federal Housing Enterprise Oversight (OFHEO) released the new maximum conforming loan limits that will be in effect through the year en.  This is as of a result of the Economic Stimulus Act of 2008. The new jumbo limits are a function of median home prices as estimated by the US Department of Housing and Urban Development.

The new and temporary jumbo conforming limits apply to loans originated in the period between July 1 2007 and December 1 2008 and are as high as 729,750 for single family homes. You can go to www.ofheo.gov/media/hpi/AREA_LIST.pdf, to obtain data on those counties and metropolitan statistical areas that are affected by the new loan limits. 71 Metropolitan and Micropolitan statistical areas are affected. The limit for the Fairfield County area will be $708,750.

Yet again another good reason to a home in today's market.

http://www.HomesofFairfieldCounty.com

Victoria Lorusso
Keller Williams
vmll@kw.com

 

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