Higher Home Loan Limits Approved

Washington, DC, Nov. 16, 2011 -- U.S. lawmakers reached an agreement to increase the maximum size of home loans backed by the Federal Housing Administration.

House and Senate lawmakers agreed to apply a higher limit of $729,750 to FHA-insured loans, while leaving the limit on loans backed by mortgage companies Fannie Mae and Freddie Mac at the current level of $625,500.