NEW HIGHER FHA LIMITS FOR MARICOPA COUNTY, $345,250

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

FHA Lowers Loan Limits

FHA lowers limits on loans, an article from azcentral.com, reports that starting in January the new FHA loan limit for Maricopa County will be $271,050. The current FHA limit in the Valley is $346,250. So, for anyone interested in using an FHA loan to purchase a home - now is the time to do it. Every Arizona county will see their FHA loan limit drop to $271,050, except Coconino, where it will be $333,750.http://www.azcentral.com/arizonarepublic/business/articles/2008/11/19/20081119biz-catherine1119.html

Please call or email me with questions.
Staci McCarville
480-778-2614
staci.mccarville@prospectmtg.com