The Department of Housing and Urban Development (HUD) has released upwardly revised limits for FHA loans.
The new FHA loan limits are the same for both Maricopa and Pinal counties.
One-Family: $346,250 (was $263,150)
Two-Family: $443,250 (was $296,390)
Three-Family: $535,800 (was $360,100)
Four-Family: $665,850 (was $415,500)
If you are outside our local area, you can use the the HUD Mortgage Limits page to find the new limits across the country. (Update: you can also use this link to find the new Jumbo loan limits for your county by changing the “limit type” to Fannie/Freddie).
If you are in the Phoenix area and looking for an FHA loan, you’d be hard pressed to find better service than you’ll get with Shailesh and Aimee Ghimire.
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Jayson 03.06.08 at 1:12 pm
Good news! Better news for California but this is good news for us as well. It’s been talked about for some time and now it’s finally here! They’ve been doing a lot lately hopefully the combined efforts clear up some inventory.
Shailesh 03.06.08 at 3:32 pm
Thanks for the compliments Jay. It seems like the only borrowers I talk to these days are FHA. How the times have changed.
Thomas Johnson 03.06.08 at 3:45 pm
Get ‘em while the last- these loan limits are election year give aways and they die at the end of the year.
Ben DeBell 03.06.08 at 8:27 pm
I hate to see the glass as half-full, but I have to agree with Thomas here. Although I’m happy to see the numbers, I’d be happier to see the numbers on a non-election year.
Matt Scoggins 03.07.08 at 9:53 am
As Realtors and lenders we know this is some great news. Hopefully all the buyers out there see it the same way and take advantage of it before it’s to late.
Tucson Michael 03.07.08 at 1:16 pm
This will help every market, especially CA, in Tucson we also went up a lot on loan limit. It’s nice to see some help is actually happening for our markets in both Phoenix and Tucson AZ.
cankayaarsa 03.08.08 at 7:26 am
wowww
Todd Tarson 03.08.08 at 7:52 am
I’m buying a home in Minnesota right now… the best loan choice for me was FHA by far. I didn’t need the increase, but still, this is the program that just makes the most sense for all parties involved right now.
Austin Real Estate Blog 03.09.08 at 11:14 pm
Does anyone have a good link for the jumbo limit increases. Is that the same for the whole country or is a county by county thing like FHA.
The Phoenix Real Estate Guy 03.10.08 at 7:04 am
AREB - the link in this very post, HUD Mortgage Limits page , has the new jumbo limits as well. Just select “Fannie/Freddie ” as the limit type.
And yes, it is county based.
Austin Real Estate Blog 03.10.08 at 9:56 am
Thanks. That stinks they stayed at 417k in Austin.