« ANOTHER MONTH - ANOTHER RECORD HOME PRICE DROP FOR PHOENIX | Main | HOUSING INVENTORY IN PHOENIX METRO STILL HIGH »

February 25, 2009

FHA LOAN LIMITS IN PHOENIX RISE DUE TO STIMULUS BILL

I noted on Monday that conforming (Fannie/Freddie) limits were raised due to a provision in the stimulus bill, primarily affecting areas that are designated as "high cost" (i.e., not Phoenix).   

Justin McHood over at ArizonaMortgageTeam points out that FHA loan limits also were bumped up by the stimulus bill - and this does affect Phoenix.  The FHA loan limit was raised from $271,000 to $346,250, making many more prospective homebuyers in Phoenix eligible under FHA programs.  It's another minor step to help provide some liquidity to the ailing mortgage market.

The Mortgagee Letter from HUD announcing the new limits can be viewed here (Word doc).  And a county by county look-up of the new limits is here.

Posted on February 25, 2009 at 10:37 PM in Loan Modifications, Residential Real Estate |

TrackBack

TrackBack URL for this entry:
http://www.typepad.com/services/trackback/6a0105363b89af970b011168993773970c

Listed below are links to weblogs that reference FHA LOAN LIMITS IN PHOENIX RISE DUE TO STIMULUS BILL:

Comments

Feed You can follow this conversation by subscribing to the comment feed for this post.

The comments to this entry are closed.

Categories

Recent Posts

Copyright Notice

  • © 2008, 2009 Paul P. Kingsley. All Rights Reserved. All content on the www.desertlawblog.com website and related pages is the property of Paul P. Kingsley and may not be used without the express written permission of Paul P. Kingsley.

Disclaimer

  • This blog is for informational purposes only and is not legal advice. No responsibility is assumed for the accuracy or timeliness of any information on this blog. The blog is not intended as a substitute for legal counsel, and is not intended to create, and receipt of it does not constitute, a lawyer-client relationship. Prior to making any legal decisions, a visitor to this blog should consult with a licensed attorney in their state of residency.

    Please do not send confidential information via email or post confidential information to this blog in the comments section. The sending of information by you, and the receipt of it by Paul Kingsley, is not intended to, and does not, create an attorney-client relationship.