FHA Loan Limits Arizona

Brian Reese

August 16, 2023

FHA loans are an excellent option to purchase an Arizona home with less-than-perfect credit or a past bankruptcy. Unlike conventional loans, those with lower credit scores can still apply, and the down payment requirements are lower: between 3.5% and 10%. Closing costs for FHA loans are often lower as well.

However, the FHA has mortgage limits on the maximum loan amount they’ll approve. FHA limits change every year, and they differ by state.

Let’s look at Arizona’s 2023 FHA loan limits so you can determine whether the home of your dreams is within reach.

FHA Loan Limits in Arizona (2023)

Arizona FHA loan limits vary by county and are determined by the average home cost in the area and whether it is a single or multi-family home.

For some areas, instead of using county, the FHA will use “Metropolitan Statistical Areas,” or MSAs, to determine FHA limits. These are usually for larger towns, such as Phoenix in Maricopa County, as the Department of Housing and Urban Development (HUD) recognizes that the high cost of homes in this area of Arizona could prevent some homebuyers from accessing a loan.

Our list includes the Arizona MSA within the county for your convenience.

Apache County, AZ, FHA Loan Limit

Metropolitan Statistical Area: Non-Metro

One Unit: $472,030
Two Unit: $604,400
Three Unit: $730,525
Four Unit: $907,900

Cochise County, AZ, FHA Loan Limit

Metropolitan Statistical Area: Sierra Vista-Douglas

One Unit: $472,030
Two Unit: $604,400
Three Unit: $730,525
Four Unit: $907,900

Coconino County, AZ, FHA Loan Limit

Metropolitan Statistical Area: Flagstaff

One Unit: $472,030
Two Unit: $604,400
Three Unit: $730,525
Four Unit: $907,900

Gila County, AZ, FHA Loan Limit

Metropolitan Statistical Area: Payson

One Unit: $472,030
Two Unit: $604,400
Three Unit: $730,525
Four Unit: $907,900

Graham County, AZ, FHA Loan Limit

Metropolitan Statistical Area: Safford

One Unit: $472,030
Two Unit: $604,400
Three Unit: $730,525
Four Unit: $907,900

Greenlee County, AZ, FHA Loan Limit

Metropolitan Statistical Area:Non-Metro

One Unit: $472,030
Two Unit: $604,400
Three Unit: $730,525
Four Unit: $907,900

La Paz County, AZ, FHA Loan Limit

Metropolitan Statistical Area: Non-Metro

One Unit: $472,030
Two Unit: $604,400
Three Unit: $730,525
Four Unit: $907,900

Maricopa County, AZ, FHA Loan Limit

Metropolitan Statistical Area: Phoenix-Mesa-Scottsdale

One Unit: $530,150
Two Unit: $678,700
Three Unit: $820,350
Four Unit: $1,019,550

Mohave County, AZ, FHA Loan Limit

Metropolitan Statistical Area: Lake Havasu City-Kingman

One Unit: $472,030
Two Unit: $604,400
Three Unit: $730,525
Four Unit: $907,900

Navajo County, AZ, FHA Loan Limit

Metropolitan Statistical Area: Show Low

One Unit: $472,030
Two Unit: $604,400
Three Unit: $730,525
Four Unit: $907,900

Pima County, AZ, FHA Loan Limit

Metropolitan Statistical Area:Tuscon

One Unit: $472,030
Two Unit: $604,400
Three Unit: $730,525
Four Unit: $907,900

Pinal County, AZ, FHA Loan Limit

Metropolitan Statistical Area: Phoenix-Mesa-Scottsdale

One Unit: $472,030
Two Unit: $604,400
Three Unit: $730,525
Four Unit: $907,900

Santa Cruz County, AZ, FHA Loan Limit

Metropolitan Statistical Area: Nogales

One Unit: $472,030
Two Unit: $604,400
Three Unit: $730,525
Four Unit: $907,900

Yavapai County, AZ, FHA Loan Limit

Metropolitan Statistical Area: Prescott

One Unit: $472,030
Two Unit: $604,400
Three Unit: $730,525
Four Unit: $907,900

Yuma County, AZ, FHA Loan Limit

Metropolitan Statistical Area: Yuma

One Unit: $472,030
Two Unit: $604,400
Three Unit: $730,525
Four Unit: $907,900

How to qualify for an FHA loan in Arizona

The Federal Housing Administration has outlined a few requirements to obtain an FHA mortgage, including the following stipulations.

Credit score: You need a credit score of at least 500 to secure an FHA loan.

Debt-to-income ratio: Your debt-to-income ratio (DTI) is how much of your income goes toward your debts. The maximum DTI for an FHA loan is 43%, though some lenders may still approve borrowers with higher credit scores.

Home approval: An FHA-approved appraiser must appraise the home and pass a house inspection.

Home type: You can only use an FHA loan for your primary residence. Second homes won’t qualify.

Residence: You must move into the home within 60 days of the purchase date.

Minimum down payment: Borrowers with 580 or above must have a 3.5% down payment, while those with credit scores of 500-579 need a down payment of at least 10%.

Mortgage insurance premium (MIP): If you’ve put down less than 20%, you need to pay both an upfront MIP, usually 1.75% of the loan, as well as a yearly MIP on the property, calculated by your down payment, loan term, and mortgage-to-value (LTV) ratio.

Proof of employment: Like with conventional loans, lenders servicing FHA loans need evidence of steady work for you to qualify.

How are Arizona FHA loan limits determined?

FHA loan limits are determined yearly by average home prices, housing demand, and cost of living in the area.

The bottom loan limits are set at 65% of the 2023 Conforming Loan Limit set by the Federal Housing Finance Agency, which is $726,200; this gives a 2023 FHA floor limit of $472,030 for single-family homes.

For the top loan limits, FHA loan limits for Arizona are set at 150% of the Conforming Loan Limit, which brings the 2023 FHA loan limits to $1,089,300.

In areas of Arizona where the average home price falls outside of these ranges, the FHA limits are adjusted to accommodate the high cost of property.

Ready to Qualify for an Arizona FHA Loan? We’re Here for You

District Lending is one of the premier mortgage brokers in Arizona, connecting homebuyers with lenders that can make their homebuying dreams come true.

Whether you’re seeking a conventional or FHA loan, we can help demystify the lending process and get you access to the best mortgage rates possible. Our goal is to get borrowers loans with rates and terms that work best for them.

Buy a home and refinance at no cost.

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