New FHA Mortgage Loan Limits in Tucson Arizona
March 25th, 2008 Categories: Real Estate News
With the Feds working on rebuilding the Housing Market a vote to increase Loan limits FHA Loans has also come along to help.
FHA loans are government backed so they are secure and stable. They are also a fixed rate mortage with a small amount of down payment. This down payment can even be a gift from a parent or relative. The down payment can be as low as 3% which is less than the average down payment.
The Loan Limits in Pima County rose to $316,250.00 This is higher than the average sale price. In Pinal County the loan amount is $346,250.00.
NOW is the time to purchase a home whether you are a first time home buyer or just want to increase your square footage. Call your local Realtor, or better yet, your Tucson Keller Williams Realtor and they will help you find the right house for the right price. They know the market better than the average For Sale By Owner.
The For Sale By Owner seller just sells at the price they have decided to price their property. Sometimes there is no reason for the price other than that is what they need to purchase another house or what their loan amount is. This is not the correct way to price a property. You need to look at the sold properties in the area and see how the market is pricing these neighborhoods. They is the job of a good realtor.
The Realtor will tell you what properties sold for in the area and will help you with the most important decision in your life…purchasing your first home. It is a big investment and having all the pieces together, a good Realtor with a great Lender helps make the process easier. With the new FHA Loan amounts this is a great opportunity. Call a Tucson Realtor and start your home buying process today.
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