Homes Are More Affordable Now in Phoenix

 

Buying power has just gone up in Maricopa County. Tom Ross is here with the latest news.

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I’m back once again with my preferred lender, Tom Ross of Bay Equity, to give you guys some important new information about mortgage loan limits here in Phoenix. Some big changes have come out this last week and we wanted to explain what was going on to you guys.

Fannie Mae and Freddie Mac have both raised their loan limits for conventional financing to $453,100 in Maricopa County. What this means is that you can essentially buy a $477,000 home with only 5% down. 

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Your buying power has increased as a result.

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It’s a big assist to the buying power of anybody who is looking to buy a home with conventional financing. It opens up the market a bit more as well.

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