On March 6th, the Federal Housing Administration (FHA) announced new temporary, expanded loan limits, as directed by the Economic Stimulus Act.

From FHA’s press release:  “Effective March 6, 2008, HUD will offer temporary FHA loan limits that will range from $271,050 to $729,750 (Limits). Overall, the change in loan limits will help provide economic stability to America's communities and give nearly 240,000 additional homeowners and homebuyers a safer, more affordable mortgage alternative. The maximum amount of $729,750 will only be applicable to extremely high-cost metropolitan areas. Previously, FHA's loan limits in these very high-cost areas were capped at $362,790.”

To view the loan range in a particular State and County, click here and view the map.

To read FHA’s loan limits mortgagee letter, click here.

To read the FHA’s press release on the new loan limits, click here.