| Slade Mortgage Loan Limit Alert! March 10, 2008 | | | | | On March 5, the Department of Housing and Urban Development ("HUD") released the new Federal Housing Administration ("FHA") loan limits set for either (1) FHA-insured loans in a specific area or;(2) Fannie Mae/Freddie Mac limits set for conventional mortgage loans in a specific area. As an example, following loan limits apply for FHA loans ONLY: Single Family Two Family Three Family Four Family | MA | BARNSTABLE | BARNSTABLE TOWN, MA (MSA) | $ 462,500 | $ 592,050 | $ 715,700 | $ 889,450 | | MA | BERKSHIRE | PITTSFIELD, MA (MSA) | $ 417,000 | $ 533,850 | $ 645,300 | $ 801,950 | | MA | BRISTOL | PROVIDENCE-NEW BEDFORD
-FALL RIVER, RI-MA (MSA) | $ 475,000 | $ 608,100 | $ 735,050 | $ 913,450 | | MA | DUKES | NON-METRO | $ 729,750 | $ 934,200 | $ 1,129,250 | $ 1,403,400 | | MA | ESSEX | ESSEX COUNTY, MA METROPOLITAN
DIVISION | $ 523,750 | $ 670,500 | $ 810,450 | $ 1,007,200 | | MA | FRANKLIN | SPRINGFIELD, MA (MSA) | $ 417,000 | $ 533,850 | $ 645,300 | $ 801,950 | | MA | HAMPDEN | SPRINGFIELD, MA (MSA) | $ 417,000 | $ 533,850 | $ 645,300 | $ 801,950 | | MA | HAMPSHIRE | SPRINGFIELD, MA (MSA) | $ 417,000 | $ 533,850 | $ 645,300 | $ 801,950 | | MA | MIDDLESEX | CAMBRIDGE-NEWTON-FRAMINGHAM,
MA METROPOLITAN DIVIION | $ 523,750 | $ 670,500 | $ 810,450 | $ 1,007,200 | | MA | NANTUCKET | NON-METRO | $ 729,750 | $ 934,200 | $ 1,129,250 | $ 1,403,400 | | MA | NORFOLK | BOSTON-QUINCY, MA METROPOLITAN DIVISION | $ 523,750 | $ 670,500 | $ 810,450 | $ 1,007,200 | | MA | PLYMOUTH | BOSTON-QUINCY, MA METROPOLITAN
DIVISION | $ 523,750 | $ 670,500 | $ 810,450 | $ 1,007,200 | | MA | SUFFOLK | BOSTON-QUINCY, MA METROPOLITAN DIVISION | $ 523,750 | $ 670,500 | $ 810,450 | $ 1,007,200 | | MA | WORCESTER | WORCESTER, MA (MSA) | $ 417,000 | $ 533,850 | $ 645,300 | $ 801,950 | Fannie Mae/Freddie Mac or conventional loan amounts will also be rising, but the final loan amounts have yet to be determined. We will keep you updated as soon as we find out the new limits. As to interest rates, the markets are expected to lower interest rates in the next few weeks. Today is already a good example of the direction that rates will be going... Which is DOWN! Please call or email your Slade Mortgage loan officer for the most up to date information. If you do not have your application in yet, please call/email me right away to get that part of the process out of the way, so when rates drop.... you are READY! Thanks for your interest in these updates... I have enjoyed all your feedback and have hired additional staff to help with your inquiries. Talk with you soon. Mike Mike Burton President
Slade Mortgage Group Inc. 222 Main Street Falmouth, MA Phone: 508-548-0177 MB # 1294, Licensed in Massachusetts and Florida "We are here for you today and tomorrow!" | | | | | | | |
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