FHA Loan limits have been raised!!!!

Today FHA increased loan limits in most counties. In Pima and Maricopa counties, loan limits were raised. This is a very positive sign from FHA that will allow FHA borrowers to buy or refinances larger loans. The housing market should see some positive movement because of these increase. FHA loans have very low fixed rates and do not have as many restrictions as conventional loans do at higher LTV’s (Loan to Values). Pima’s loan limits were raised to $316,250 and Maricopa’s was raised to $346,250


Now in Pima county, a buyer can take advantage is FHA financing that only requires a 3.5% down payment. With a minimum of 3.5% down payment a buyer can purchase a $327,720 home which is up from $280,880 under the old guidelines.


Please check out the link below for a list of all counties.


https://entp.hud.gov/idapp/html/hicost1.cfm


If you’re ready for a FHA loan apply here.