On Oct. 1, Fannie Mae, Freddie Mac, and FHA conforming loan limits were reduced dramatically, which will force thousands of California home buyers to face higher down payments, higher mortgage rates, and stricter loan qualification requirements.
C.A.R. and NAR are working to get support for a recently introduced appropriation bill that would restore the higher loan limits through December 2013, but we need your help.
If you haven’t already done so, please urge your Member of Congress to support reinstatement of the FHA and GSE loan limits by responding to NAR's Call-for-Action.
More info: http://www.car.org/governmentaffairs/federal/call4actionloanlimits/
