More Americans will be able to obtain a $1 million mortgage than ever before, thanks to action recently taken by government agencies.The Federal Housing Finance Agency announced this week that the cap for home loans backed by Fannie Mae and Freddie Mac - the federally-backed home mortgage companies - has increased to just over $1 million for the first time in history. The new limit impacts home buyers looking to obtain a million-dollar mortgage with as little as three percent for houses in more expensive areas like New York and .
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