Maximum Loan Amount

Maximum Loan Amount

The largest loan size permitted on a particu- lar loan program.

For programs where the loan is targeted for sale to Fannie Mae or Freddie Mac, the maximum will be the largest loan eligible for purchase by these agencies. On FHAloans, the maximums are set by the Federal Housing Administration, and vary somewhat by state and county. On other loans, maximums are set by lenders.

References in periodicals archive ?
The maximum loan amount is $2 million for small businesses and non-profit organizations that suffered substantial economic injury from the disaster.
Customers can apply for a loan amount of up to ten times their monthly basic salary (with a maximum loan amount of HK$1,200,000) at an APR as low as 2.
On June 8, 2007, BAK renewed its comprehensive credit facility agreement with Agricultural Bank to provide a maximum loan amount of RMB 800 million (U.
RiT's controlling shareholder, today announced that they have extended the term of their convertible loan agreement by an additional 12 months (until June 11, 2013), and increased the maximum loan amount by $4 million to a total of $14 million.
LoanCity's underwriting of this product is extremely flexible: Take 5ive Option ARM has a maximum loan amount of $3 million and can be matched with a piggyback home equity line of credit or loan from LoanCity.
Unfortunately, he says, there are plenty of lenders who will qualify them for the maximum loan amount possible.
Some of the key results that are provided for each borrower are: H4H maximum loan amount, estimated net proceeds and a foreclosure comparison.
Further, at a time when institutions are lowering their loan limits to under $417,000 - the maximum loan amount that Freddie Mac and Fannie Mae would purchase - the American Mortgage and Real Estate Group has increased its loan limit to $2,000,000, while still being able to offer the low rate of 6.
The maximum loan amount for working capital is $100,000 or 50 percent of total eligible project costs, whichever is less.
Primary residence one-to-four units and second homes one unit * No commercial or multi-family properties * Fee simple property ownership * Property size 25 acres or less * Maximum loan amount $500,000 -- total line of credit for HELOCs not to exceed $500,000 * Available for second liens, both closed-end and HELOC * Maximum CLTV is 100 percent
The 3% interest rate loan will be complemented by a new longer loan term of up to five years and an increase in the maximum loan amount to $5 million.

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