FHA Loan limits extended…

The FHA loan limit has been extended into 2010 and will remain at $346,250 for single family properties in Maricopa & Pinal counties.

Assuming the 3.5% down payment this means you can purchase a property at $358,800 or lower.

We are expecting to see the FHA down payment requirements increase to probably 5% as well as allowable seller concessions to drop from 6% to a maximum of 3%. We’ll probably see these changes sometime in 2010.

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