Home Mortgages Eligible For U.S. Backing Raised To $484,000

www.oann.com | 3/20/2014 | Staff
cindy95240cindy95240 (Posted by) Level 3
WASHINGTON (Reuters) – The United States will finance single-family home mortgages as high as $484,350 across much of the country next year, according to the regulator for Fannie Mae and Freddie Mac, the mortgage finance companies that are owned by taxpayers.

The new loan limit means more large homes are eligible for backing by Fannie and Freddie – companies conceived to promote home ownership. This year, the companies would not finance home loans larger than $453,100 in most communities.

Fannie - Freddie - Government - Hands - Housing

Fannie and Freddie fell into government hands after the housing crisis hit in 2008 and the companies have been controlled by Washington...
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