What the stimulus act of 2009 included for FHA in 2009-
February 15, 2009 | Brian Lebars
It’s called H.R. 1 and now it’s a done deal. http://www.opencongress.org/bill/111-h1/text
American Recovery and Reinvestment Act of 2009 has passed the Congress, a $787 billion measure that will be instantly signed by President Obama.
What makes this bill interesting from an FHA perspective is what’s missing. Efforts to increase FHA loan limits magically fell out of the bill at the last moment.
Loan limits will remain the same as the amounts that were set in 2008 in you specific area. In the Bay Area which is considered a high cost area most counties are at the maximum loan limit of $625,000.
While home builders and real estate brokers favor higher loan limits, the marketplace has had little appetite for larger loans
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