HUD finally published the new loan limits for Maricopa and Pinal Counties. The new mortgage loan limits are the same for both counties and are as follows:
Single Family: $346,250
Two Family: $443,250
Three Family: $535,800
Four Family: $665,850
These loan limits are effective immediately, but there is some lag time since the investors who buy these loans have not yet adjusted their systems. It should happen soon enough.
With the down payment assistance programs scoring victories in their lawsuit against the HUD, borrowers are able to use 3% from non-profits such as AmeriDream. FHA just got a whole lot better. And don’t forget the 5% downpayment program (Home in Five) can be used in conjunction with a FHA loan. In this buyers market you can’t ask for things to be any better!