FHA loan limits go up in Maricopa County, Arizona

By
Real Estate Agent with HomeSmart Real Estate BR632450000

Loan limits are going up in Maricopa County, Arizona, where the maximum loan amount for FHA is currently $271,050 and will be moving to $275,665,

 

Per Bob Silva, Loan Officer with VIP Mortgate, "To stay in line with the Fannie Mae increase in loan limits from $417,000 to $424,100 which becomes effective with loan applications taken after Dec. 10th ……FHA has followed suit to maintain their 65% of federal conventional loan limit

 

This means for Maricopa County the maximum loan amount for FHA is currently $271,050 and will be moving to $275,665 starting with Case numbers pulled on or after January 1st.

 

FHA loan limits increase

 

With the FHA loan minimum down payment of 3.5% this gives a buyer purchasing power of roughly $285,500 purchase price with 3.5% down would stay under the maximum limit"

 

Mortgage rates are rumored to be going up in late December, wait and see. This may be the time to buy.

For more information on Arizona mortgage loans check or call.

Posted by

Jeffrey Masich, Associate Broker, REALTOR®, MBA, GRI, BS Accounting

HomeSmart

Scottsdale, Arizona

JeffMasich@ArizonaHomesLand.com

http://ArizonaHomesLand.com

480-242-6500

 

 

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Arizona Maricopa County
Tags:
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Rainmaker
2,662,773
Kristin Johnston - REALTOR®
RE/MAX Realty Center - Waukesha, WI
Giving Back With Each Home Sold!

Great information...thank you for sharing and enjoy your weekend!

Dec 03, 2016 08:11 AM #1
Rainmaker
54,506
Sharon Kolb
Atlanta Decatur Homes - Atlanta, GA
Broker - Atlanta Decatur Homes

Good to stay informed.  Thanks!

Dec 03, 2016 08:44 AM #2
Rainmaker
639,713
David Alan Baker Laveen & South Phoenix Realtor
HomeSmart - Laveen, AZ
Your local Expert

This is a good thing, and hope it will help more folks get into the homes they want and can afford.

Dec 03, 2016 11:21 AM #3
Rainmaker
1,308,117
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • Green • GRI • HAFA • PSC Los Angeles CA

In high cost areas, as many cities of CA, it is up to $636,150. 

Let's hope, it will provide stability and certainly to our housing market by giving more buyers a chance at home-ownership. 

Feb 20, 2017 03:24 PM #4
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Rainmaker
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Jeffrey Masich- Arizona Associate Broker,MBA &GRI

Arizona Homes and Land Group/ Buy or Sell
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