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| UPDATE! Government Announces Conforming Loan Limit Increases The Office of Federal Housing Enterprise Oversight (OFHEO) announced it has increased limits on conforming loans offered by government- sponsored enterprises, Fannie Mae and Freddie Mac, from $417,000 to as high as $729,750. We can connect you with a mortgage specialist! The Fed’s economic stimulus package approved earlier this year called for temporary increases on conforming and FHA loan limits to allow troubled borrowers to refinance out of sub- prime loans and make it easier for many new buyers to qualify for mortgages in high-cost areas, particularly in California where home prices remain among the highest in the nation. |