Housing Mortgages Information

New Loan Limits Will Impact Few Buyers

President George W. Bush is scheduled to sign H.R. 5140, better known as the economic stimulus package into law on Wednesday.

The legislation is geographically specific and will provide assistance only in those areas where housing prices are well above the national average. The legislation reads that the loan limitation "on the maximum original principal obligation of a mortgage that may be purchased...shall be the higher of-

It is not possible to know specifically what the impact will be on one area or another but the legislation mandates that...