FHA Loan Limits Changing in Tucson

November 19, 2008

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.