FHA Loan Limits Changing in Tucson

November 19, 2008 | By Kelley Koehler | Filed Under Loans and Financing 

FHA loans are becoming much more popular due to the low down payment amount needed when purchasing a home – in the 3-3.5% range, plus a one time fee which brings the down payment to under 5% – but loan limits are going back down in 2009.

Right now, you can buy a home with an FHA loan and finance up to $316,250, which covers a huge portion of the homes for sale in Tucson.  However, starting in 2009, loan limits go back down to $271,050.  That means anyone looking to buy a home with an FHA loan is looking in the $275k range and less.

The Daily Mortgage Report genius Dan Green covers it here.

Curious as to how many homes are available to those FHA home buyers in Tucson under $275k?  Wonder no more.  I have charts.  Lots and lots of charts.  Like this one:

You can also see this chart on the Stats page, from which you can explore the price distributions for each part of Tucson.

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