Arizona FHA Loan Limit Increased for 2019

HUD announced Arizona FHA Loan Limits increased again for 2019.  In fact, 3,053 Counties out of 3,142 in the Nation will see FHA loan limits rise in 2019. Per the announcement, 2019 FHA Loan Limits fall somewhere between a minimum loan amount ("Floor") and a maximum loan amount ("Ceiling").  For 2019, FHA set those loan amounts as follows: $314,827 FHA Floor $726,525 FHA Ceiling Arizona FHA Loan Limits as well as all FHA limits Nationally may differ County to County. Arizona … [Read more...]

FHA Cancels Mortgage Insurance Cut

As of 01/20/2017 FHA has put a hold on the update below.  We will update this if/when the situation changes. Learn more about FHA Home Loans FHA is lowering monthly mortgage insurance costs by 29%.  In layman unfriendly terms, the mortgage insurance factors used to calculate monthly mortgage insurance on an FHA are decreasing by 25 basis points on the 3.5% down/30 year fixed FHA loan program (other programs and high cost loans have different change schedules).   The change is effective … [Read more...]

Excluding Pre-Marital Debt on an FHA Loan in Arizona

Community property states (such as Arizona) complicate the FHA mortgage process for some married home-buyers.  In a community property state, a non-purchasing spouse's debts are held against the purchasing spouse on an FHA loan.  Talk about sparking interesting table talk! Adding insult to injury, the rule goes on to say a non-purchasing spouse's income is not usable on an FHA loan.  However, a detour around this rule exists for Arizonans. That's right, a non-purchasing spouse's debt is not … [Read more...]

FHA Changes Challenge Appraisers

FHA has made life more nerve-wracking for an FHA appraiser.  After polling a handful of FHA licensed appraisers on their take on FHA''s changes the responses ranged from pure hatred to slight discomfort with FHA's appraisal changes. Apply now for an FHA Loan 602.435.2149 What Are FHA Appraisers Saying About the Changes? Each appraiser has a different understanding of the changes.  As a result, they each have a varying level of tolerance and acceptance for them. … [Read more...]

Big Changes FHA Mortgage Rules 2015

While Fannie Mae moves some of their guidelines toward Easy St, FHA is tugging theirs into the Matrix.  In fact, FHA tightened and clarified many of its guidelines in September 14, 2015. After combing through 100 pages of FHA's changed rules and regs I could see 3 distinct categories of change: Clarified previously vague qualifiers or measurements Actual guideline changes Changed wording While many of the 100 pages of FHA changes are not critical, some of them will hit borrowers … [Read more...]