In 2008, high cost area loan limits were established in certain counties on a temporary basis. These temporary loan limits were established as part of the government’s 2008 economic stimulus package. Effective October 1, 2011, these loan limits will be lowered significantly by as much as 14 percent nationwide. According to fha.gov, it doesn’t look like Atlantic County, NJ is on this list of certain counties that may be affected by this change. Northern NJ counties include:
Bergen, Essex, Hudson, Hunterdon, Middlesex, Monmouth,
Morris, Ocean, Passaic, Somerset, Sussex, Union
for the list check out: http://www.fhfa.gov/GetFile.aspx?FileID=134
If you live in Atlantic County, NJ, I would suggest calling your local mortgage consultant or you can check out
www.brianmccartysmc.com. Brian of Superior Mortgage is a great source of mortgage information in Atlantic County, NJ.