FHA Limits Increased for Pima County

Downtown Tucson

FHA announced today the increase in loan limits from the $271,050 to $316,250 in Pima County and $346,250.00 in Maricopa. The down payment remains at 3.5%.

During the boom years, which were actually the bust years, FHA loans almost disappeared from the scene.

Now, if a buyer has less than 20% to put down they are about the only game in town. Having these limits raised will help some potential buyers. But it is very important that even with the low 3.5% down the monthly payment should not be more than the rule of thumb 28% of take home income.