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This is awesome news. FHA has raised the loan limit for Maricopa county to $346,250 from the previous level around $250K. That means buyers can purchase up to $355,000 and only put 3% down. These are signs of the market turning. Another one was 2 weeks ago when Fannie Mae increased the amount of loans an investor can have from 4 to 10. Money is becoming more available as risk is removed from the market. Last week we had the highest level of homes sales since 2005, nearly 4 years ago.
Just my opinion...Jeff Cameron
FHA Mortgage Limits List - FHA Forward
Message: MORTGAGE LIMITS SUCCESSFULLY COMPLETED
Mortgage maximums as of Wednesday February 25, 2009
MSA Name MSA Code Division County Name County
Code State One-Family
PHOENIX-MESA-SCOTTSDALE, AZ (MSA) 38060 MARICOPA 013 AZ $346,250 01/01/2009
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