From Banker & Tradesman:

The federal government has extended through next year the maximum dollar amount for single-family “conforming loans,” or loans which federally-backed Fannie Mae and Freddie Mac will agree to purchase, giving some breathing room to potential homebuyers in nine high-priced Massachusetts counties who otherwise may have had to apply for more costly jumbo mortgages.

Fannie and Freddie have a general limit of $417,000 on loans they will agree to purchase, except if a home is purchased in one of several specially-designated “high-cost” areas. In these areas, due to higher median home prices, Fannie and Freddie have agreed to extend that figure to as much as $729,750 through 2010, after initially threatening to lower the high-cost area limit to $625,500 at the end of this year.

The move affects potential homebuyers in nine Massachusetts counties. Below, please find a listing of counties, and the extended loan limit.

1.) Barnstable: $462,500

2.) Bristol: $475,000

3.) Dukes: $729,750

4.) Essex: $523,750

5.) Middlesex: $523,750

6.) Nantucket: $729,750

7.) Norfolk: $523,750

8.) Plymouth: $523,750

9.) Suffolk: $523,750

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