Affectionately called the Grand Canyon State in reference to its most notable attraction, Arizona is one of the most beautiful states in the nation. Americans are buying homes to live in Arizona cities like Phoenix or Tucson, or to find a cozy spot near many of Arizona’s national forests and natural attractions.
When buying a home in Arizona, the hard part isn’t actually choosing a property, but rather figuring out how to finance it. There are many loan options, so it's easy for the process to feel overwhelming. It’s the reason why many Arizonans have decided to simplify the process and save money with an Arizona FHA loan. Keep reading to find out if an FHA loan is right for you.
With more than 2 million people moving to Arizona in the past 20 years, it’s no surprise the total value of FHA loans in Arizona was nearly $415 million as of April 2019. The FHA loan program in Arizona is a reliable option when choosing a mortgage option for your new home.
Generally speaking, the FHA loan limit baseline in Arizona is $498,257. However, in places such as Coconino County the loan limit is $525,550. It’s important to have an idea of how much you can borrow while shopping for your new home, so check out the table below for the full list of 2024 FHA loan limits in Arizona.
County | FHA Loan Limit |
---|---|
Coconino | $525,550 |
All other areas | $498,257 |
You may be eligible for an FHA loan, if you:
Credit Requirements
Employment Requirements
Mortgage Insurance Premium Requirements
Buyers must be able to provide the following information and documents as requested by lenders:
Note: Facts and figures sourced from the latest statistics available at the time of this writing including data from the United States Department of Labor, United States Census Bureau and the United States Department of Housing and Urban Development.