New legislation recently signed by the president will allow the current loan limits to remain the same. In Maricopa county those limts are currently $346,250 for an FHA loan, and $417,000 for a Conventional loan. The legislation will allow these figures to remain in effect until 9/30/2011
This is important because normally these loan limits are set by median home prices. Since Maricopa County has seen drastic plunges in sales prices, the loan limits could have been set far lower.
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