Big Changes to FHA Loan Limits in Arizona


 

By Joseph Small

Important News For Arizona

2014 Arizona FHA Loan Limits – Got some interesting news to share regarding FHA loans in Arizona. The US Department of Housing and Urban Development or HUD just announced that it will be implementing new FHA single-family loan limits for 2014. Click here to read the announcement: HUD ANNOUNCES NEW FHA LOAN LIMITS TO TAKE EFFECT JANUARY 1ST. So what does that mean for
FHA loans in Arizona?

Well, starting January 1, 2014, with the exception of Coconino county, all remaining counties in Arizona will have a new maximum FHA loan limit of $271,050. Coconino County will be reduced to $346,250. This will greatly effect the Tucson, Phoenix and Flagstaff areas. Pima County, for example, currently has a max FHA loan limit of $316,250 for a single-family home, which will be reduced by almost $45,200.

View the NEW 2014 Arizona FHA County Loan Limits

Maricopa County currently has an FHA single-family limit at $346,250, which will see a drop of almost $75,200. And Coconino county currently has an FHA single-family max limit at $450,000, which will see a drop of about $178,950.

So what if you are planning to purchase your Arizona dream home with an FHA loan that is above the $271,000 loan limit? If an FHA case number is pulled by a lender prior to the January 1, 2014 date, then you can continue under the current FHA loan limits. Any new FHA loan after that date will fall under the new loan limits set by HUD.

Here is a list of the current (2013) FHA loan limits in Arizona: 2013 Arizona FHA loan limits

If you have any questions on manufactured home financing, then please give us a call. My team and I are here to help you.

Tucson /S. Arizona: (520) 303-5620 Phoenix /N. Arizona (480) 648-1733

Joseph Small and his Team at Guild Mortgage Co. helps Tucson and Phoenix Flagstaff and all of Arizona Homeowners and Buyers with all their FHA home mortgage loan needs. Also proudly serving other cities throughout Arizona. Give them a call today! Maybe one day you too will say, “Joe’s My Lender!”

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