FHA Limits Increased for Pima County
February 27, 2009
Post Tags: FHA Loans , 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.
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