Obama signs extension for higher FHA loan limits

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Legislation restoring the former limits was passed by Congress on Thursday and was signed into law by President Obama today. The maximum FHA loan limit had fallen to the old maximum of $625,500 on.

Senate Passes One-Year Extension on Higher GSE Loan Limits. Congress has voted to extend higher loan limits for the government-sponsored enterprises (GSEs), Fannie Mae and Freddie Mac. Approved by the U.S. House of Representatives and Senate, President Barack Obama is expected to sign the initiative into law that would keep a ceiling of $729,750 for.

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President Barack Obama has signed HR 2112, the Consolidated and Further Continuing Appropriations Act of 2012 into law renewing the expired higher loan limits for Federal Housing Administration (FHA) and U.S. Department of Veterans Affairs (VA) loans for an additional two years, through Dec. 31, 2013.

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President Obama Signs Extension for Higher FHA Loan Limits. President Obama signed into law a government spending bill that effectively reinstates higher conforming loan limits for the Federal Housing Administration through the end of 2013, HousingWire reported Nov. 18.

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Congress passed and President Obama signed into law on November 18 a bill to reinstate the Federal Housing Administration (FHA) loan limit in high-cost areas through 2013. In Santa Clara County, this would mean the maximum size of mortgages FHA can insure will be raised back up to $729,750.