Nope, VA was excluded:
The Nation's Housing
Veterans' Loans Left Out of Stimulus Plan
By Kenneth R. Harney
Saturday, March 8, 2008; Page F01
When Congress and the White House put together the $150 billion economic stimulus package, they raised the maximum mortgage limits in high-cost...
I was just reading this a few minutes ago before your post:
Lawmakers forgot VA when raising loan limits
Kenneth Harney
Sunday, March 9, 2008
04:00 PDT Washington -- Oops! When Congress and the White House put together the recent bipartisan $150 billion economic stimulus package...
You can because its under the existing conforming limits (417,000). Those numbers for the new jumbo-conforming program. You just need to be at 95% Loan to Value.
OK, got some more understanding of whats going on with the new jumbo-conforming product:
Purchases: Up to 90% loan to value with a 700 fico
<or= 80% loan to value 660 fico
Limited or No Cash Out Refinance: 75% loan to value
(1% of loan or $2K which is lower)
Cash...
April 1st is when it goes into effect for the new jumbo-conforming products.
Statement by Brian Faith Managing Director, Communications on the Conforming Loan Limit Increase
March 6, 2008
With HUD's designation of high-cost areas as directed by the economic stimulus package...
Today's news was OK, didnt stimulate a big drop in mortgage rates but they did drop a little:
"The Labor Department said early this morning that the U.S. unemployment rate slipped to 4.8% last month when it was expected to rise to 5.0%. However, the drop is being attributed to a smaller...