FHA Loans to the Rescue!

With the fallout of the sub-prime market, lenders have been forced to tighten credit standards and many low down payment or no down payment loan programs have disappeared. In response to the credit crisis, FHA has increased loan limits in Maricopa County to $346,250 for a single family residence. In addition, the FHA Ameridream program offers low to moderate income buyers the chance to own a home with a down payment grant that does not have to be paid back!

Lending guidelines have definitely become more strict, but there is hope for buyers. Now, more than ever, it is vitally important to work with an experienced lender/mortgage broker. If you are ready to buy and would like to get approved for a home loan, contact a Luxe real estate professional today and we will connect you to a top notch lender and then we’ll help you find your dream home!