FHA Loan Limits - Possible Changes Could Impact Your Ability to Buy!

Presently Realtors in Arizona, as well as at the National level through NAR (National Association of Realtors) are frantically working to stop pending changes to mortgage insurance costs and changes to FHA loan limits - changes that could impact your ability to buy.

If Congress passes the proposal this fall, the FHA loan amounts currently available to you as the consumer will change. So what does this really mean for you?

Currently a home buyer can borrow upto $346,250 in Maricopa County with FHA financing. If the changes go into affect, the maximum amount will decrease dramatically by $75,200 – bringing down the maximum loan amount to $271,050.

If you have been kicking around the idea of buying a home and you are looking to maximize your buying power with the low interest rates and awesome housing prices, than you might not want to wait much longer to start looking – in our market, $75,200 makes a big difference in the house you want to buy and the one you’re able to buy.

We are standing by to assist you with all your real estate needs, whether that is buying for the first time, making an investment or selling, we can help you! Call us TODAY to get started tomorrow!