Phoenix Arizona Investment Property with Oggy Karchev of Realty ONE Group

FHA financing regained its popularity in 2008 and looks as if it will be one of the most widely used financing options for Arizona homebuyers who are looking to buy an owner occupied residence in 2009.

Now that the Greater Phoenix residential market has adjusted, and those overinflated home prices are long gone, the FHA loan has also been adjusted. As of 2009, the FHA loan limit in Maricopa and Pinal Counties will be reduced to $271,050 from last years $346,250. Also, the FHA down-payment requirement will increase to 3.5% from last years 3%.