Good news for the Real Estate Industry and especially those buyers trying to get financing on homes in the upper end price ranges. More than 80 percent of loans are financed through Fannie Mae, Freddie Mac, and FHA. The loan limit was temporarily made to go up to 125 percent of the local median home sales prices or up to $729,750.00 This limit was set to expire at the end of the 2009, but now it is expected to be extended to 2010. This will help those buying in the move-up, and high end markets. The overall effect will help stabilize prices because more buyers will qualify for financing.
