FHA Loan Limit Increase and Today’s Interest Rates in Arizona

December 8, 2011 at 3:00 pm 1 comment

Here is the latest on mortgage information and rates from our HomeSmart Financial Expert Ryan Halldorson. Rates are incredibly low and prices are a steal. So, if you are in a position to buy, don’t wait.

FHA Loan Limits Increase
Effective immediately, FHA loan limits are back to $346,250. They had been dropped to $271,050 in October. The max loan amount will stay at $346,250 until December 31, 2012. This change will apply to all FHA case #’s issued after November 18, 2011. An FHA case # is established by the lender at the start of an FHA loan. Conventional loan limits will remain at $417k

Interest Rates as of 12/8/2011 Rates based on a 200k Primary Residence Purchase or no-cashout refi (unless description below says differently), 740+ Credit, assuming 0% loan origination fee and 0% in buydown “points” (you can also choose to pay “points” and get a lower interest rate). Please note, this information is intended for Real Estate Professionals.

96.5% FHA 30 Year Fixed = 3.875% (Requires MI)
75% 30 Yr Fixed = 3.875%
80% 30 Year Fixed = 4%
95% 30 Year Fixed = 4% (Requires PMI)
97% 30 Year Fixed = 4.125% (Requires PMI)
80% 30 Year Fixed = 3.875%
80% 15 Year Fixed = 3.375%
80% 10 Year Fixed = 3.25%
125% Refi = 4% (No PMI, must be Fannie backed loan currently)
90% 2nd/Vacation Hm 30 Yr = 4% (Requires PMI)
80% Investment Property 30 Yr Fixed = 5%
75% Investment Property 30 Yr Fixed = 4.375%
100% USDA/Rural 30 Yr Fixed = 4.25% (No PMI required)
100% VA 30 Year Fixed = 4% (No PMI required)
80% 5 Yr ARM = 3.125%
80% 5 Yr Jumbo ARM to $1M = 3.75%
80% 30 Yr Fixed Jumbo to $1M = 5.25%

Contact Ryan at 602.793.7204 for any mortgage questions.

Entry filed under: Arizona Real Estate, Chandler Real Estate, Foreclosures & Short Sales, Phoenix Real Estate, Real Estate Deals. Tags: , , .

Private Financing Option for Short Sale or Foreclosure Chandler Zip Code Highest in the SE Valley Short Sales

1 Comment Add your own

  • 1. lesly  |  February 25, 2012 at 10:34 pm

    Rates

    Reply

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