Leon Valley (San Antonio, TX)
  Date: February 14, 2008RE: Implementation of the Two Mortgage Provisions in the Stimulus Bill On February 13, 2008, the President signed the stimulus bill, H.R. 5140. This is the first in a series of memorandums discussing the implementation of the two mortgage related provisions included in the signed measure. The bill provides temporary increases to both the Federal Housing Administration (FHA) and government sponsored enterprises (GSE) mortgage limits until December 31, 2008. NAR will provide updated information on these provisions as it becomes available. The new law makes seven temporary changes to the FHA and GSE loan limits: • Raises the base FHA loan limit ("floor") to $271,050 (65 percent of the current GSE limit of $417,000),  • Sets the base GSE loan limit ("floor") at $417...
Community Sponsor San Antonio, TX Real Estate Professionals