With all there is in the news lately on the new $8,000 first-time homebuyer credit, I figured a quick overview of FHA loan limits in the Lake Powell area was in order.
Specific areas of the Housing Reform act of 2008 will affect the Lake Powell Real Estate market on both the Utah and Arizona sides.
The FHA lending cap which was set to reset to a much lower rate at the end of the 2008, are now permanent.
- For Kane County, Utah including Big Water, Church Wells, Clark Bench and Paria, the limit will stay at $383,750 up from $291,129 in 2007.
- Coconino County including Page and Greenehaven, Arizona, will stay at $450,000 instead of reverting back to $324,000.
Coconino County has the HIGHEST FHA loan limit in the state of Arizona surpassing Maricopa County by $103,750.