By Kristena Hansen } Phoenix Business Journal
Home buyers nationwide and in Phoenix may find themselves scrambling to get in escrow before Jan. 1, when the Federal Housing Administration’s lower loan limits take effect. For borrowers in Maricopa County, the largest FHA loan available next year will be $271,050 — almost 22 percent less than today’s limit of $346,250. The cap is being reduced to $271,050 in every other county statewide as well, with the exception of Coconino, where the FHA loan limit will drop from $450,000 to $362,250.
