As you know many of the banks discontinued the original economic stimulus plan.  There is now a new one with higher loan amounts.  The rules are not really in effect until December, but they might be honored at some institutions now.

 

Remember, even though the government says they banks should do this, it does not mean they have to.  Even if they choose to increase the loan amounts, the lenders may still impose very strict guidelines as well as price/rate increase.  I will have more information to follow as it comes in.

 

The loan amounts have been reported as follows:

 

# units     loan amount

1                   625,500

2                   800,775

3                   967,950

4                1,202,925 

 

 

 

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