Fannie Mae Announcement on new PERMANENT HIGH-COST AREA LOAN LIMITS
Posted by Dawn Famiglietti on October 25th, 2008
Good Morning!
FannieMae posted their announcement on the new PERMANENT HIGH-COST AREA LOAN LIMITS. The highlights are below (entire announcement attached):
High Cost Loan Limits:
· 1 Unit - $625,500
· 2 Unit - $800,775
· 3 Unit - $967,950
· 4 Unit - $1,202,925
· UW via DU
· 90% Loan To Value Purchase /Rate & Term for SFR OO
· 75% LTV Purchase /Rate & Term for 2 Unit OO
· 75% LTV Cash Out 1-2 Unit OO
· 75% LTV Purchase 2 Unit NOO
· No cash out on 2nd Home and NOO
· No Adjustable Rate Mortgages with credit
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