U.S. Congressman Mike McIntyre announced today that he has helped restore recently reduced home loan limits for the Federal Housing Administration.
Congressman McIntyre signed a letter requesting inclusion of a provision in H.R. 2112, the Fiscal 2012 Agriculture Appropriations to raise the loan limits, reassure homeowners and homebuyers, and restore confidence in the housing market. That provision has been included in the bill.
Congressman McIntyre stated, "The lowering of these loan limits on September 30th disqualified millions of homes available for purchase by interested home buyers. Restoring the current limits provides homeowners and homebuyers with safe and affordable financing while providing a much-needed boost to housing markets across Southeastern North Carolina and the country."
This legislative action will restore FHA loan limits in the 23 counties across North Carolina that had seen reductions on September 30th, including Brunswick, New Hanover, and Pender.