New Jersey FHA Mortgage Higher Loan Limits are Extended through 2010
Last week the U.S. Congress passed a congressional resolution extending the current higher Fannie Mae, Freddie Mac and FHA loan limits through 2010.
This extends the current conforming loan limits of $417,000 for most areas in the U.S. and $729,750 for high-cost areas, including many in New Jersey. The conforming loan limit determines the maximum size of a mortgage loan that Government Sponsored Enterprises (GSEs) Fannie Mae and Freddie Mac can buy or “guarantee.” For the complete story go to http://www.reuters.com/article/pressRelease/idUS252312+30-Oct-2009+BW20091030
Okay, what does this mean for a New Jersey borrower?
It means that more New Jersey families are eligible in 2010 to purchase or refinance their homes using affordable, FHA-insured mortgages, thanks to this resolution. For more information on Loan Limits in Northern New Jersey counties including Bergen, Passaic, Morris, Essex, Hudson and Union, go to New Jersey FHA Mortgage Loan Limits – Bergen County & Northern NJ.
This also extends the FHA Jumbo Home Mortgage Loan limits. For information on Jumbo Loans and why they are so Good for New Jersey Market go to FHA Jumbo Loans – Good for Bergen County and the Northern New Jersey Market.
________________________________________________________________________________
FREE Home Buying Guide Reveals Insider Tips Other Mortgage Brokers Don’t Want You To Know…
Click Here To Get Your Copy Today!
________________________________________________________________________________
Please contact us at 201-943-6800 to schedule your FREE No-Obligation Consultation where we will meet to tailor a program to fit your needs and comfort level for monthly payments and investments.
If you would like to get started now please fill out a Secure Online Application and we will contact you to set up your free consultation and get you into the home of your dreams with the best terms available…regardless of your credit!
I hope you have enjoyed this blog.
Until next time,
Tony
201-943-6800
P.S. Also, make sure you register for our Insider Mortgage Secrets, browse our HomeBuying Resources section and fill-out a free no-obligation secure online application or call our Edgewater, New Jersey (NJ) office in Bergen County (New Jersey Gold Coast) at 201-943-6800 with any questions you have.
P.P.S. CLICK HERE to check out our FREE Credit Repair Program.
If you enjoyed this post, please consider subscribing to our FHA Mortgage Loan Blog feed and get future articles delivered to your feed reader. You can also share this article using the 'Share This' tool below.
Tony Croft's RSS Feed
Comments
No comments yet.
Sorry, the comment form is closed at this time.