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 2024 FHA loan limits so you can determine whether the home of your dreams is within reach.
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FHA Loan Limits in Arizona (2024)
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.
Unlike conforming loan limits, the Federal Housing Administration (FHA) sets its own loan limits.
In 2024, Arizona got a nice boost to its FHA loan limits; these new limits are as follows:
- Single-family properties: $498,257
- Two-family properties: $637,950
- Three-family properties: $771,125
- Four-family properties: $958,350
However, it’s important to note that some counties in Arizona have higher FHA loan limits due to increased median home prices.
For example, Maricopa County and Pinal County have the highest limits, with $530,150 for one-unit properties, $678,700 for two-unit properties, $820,350 for three-unit properties, and $1,019,550 for four-unit properties.
Coconino County also has higher limits compared to other counties: $525,550 for one-unit, $672,800 for two-unit, $813,250 for three-unit, and $1,010,700 for four-unit properties.
For some areas, instead of using county, the FHA will use “etropolitan 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.
2024 FHA Loan Limits Arizona By County
| Arizona County | One-Family | Two-Family | Three-Family | Four-Family | Median Sale Price |
|---|---|---|---|---|---|
| APACHE | $498,257 | $637,950 | $771,125 | $958,350 | $130,000 |
| COCHISE | $498,257 | $637,950 | $771,125 | $958,350 | $215,000 |
| COCONINO | $525,550 | $672,800 | $813,250 | $1,010,700 | $457,000 |
| GILA | $498,257 | $637,950 | $771,125 | $958,350 | $310,000 |
| GRAHAM | $498,257 | $637,950 | $771,125 | $958,350 | $223,000 |
| GREENLEE | $498,257 | $637,950 | $771,125 | $958,350 | $134,000 |
| LA PAZ | $498,257 | $637,950 | $771,125 | $958,350 | $125,000 |
| MARICOPA | $530,150 | $678,700 | $820,350 | $1,019,550 | $460,000 |
| MOHAVE | $498,257 | $637,950 | $771,125 | $958,350 | $238,000 |
| NAVAJO | $498,257 | $637,950 | $771,125 | $958,350 | $260,000 |
| PIMA | $498,257 | $637,950 | $771,125 | $958,350 | $350,000 |
| PINAL | $530,150 | $678,700 | $820,350 | $1,019,550 | $460,000 |
| SANTA CRUZ | $498,257 | $637,950 | $771,125 | $958,350 | $265,000 |
| YAVAPAI | $498,257 | $637,950 | $771,125 | $958,350 | $418,000 |
| YUMA | $498,257 | $637,950 | $771,125 | $958,350 | $232,000 |
2024 Arizona FHA Loan Limits By County and Metro Area
Apache County, AZ, 2024 FHA Loan Limit
Metropolitan Statistical Area: Non-Metro
- 1 Unit: $498,257
- 2 Units: $637,950
- 3 Units: $771,125
- 4 Units: $958,350
Cochise County, AZ, 2024 FHA Loan Limit
Metropolitan Statistical Area: Sierra Vista-Douglas
- 1 Unit: $498,257
- 2 Units: $637,950
- 3 Units: $771,125
- 4 Units: $958,350
Coconino County, AZ, 2024 FHA Loan Limit
Metropolitan Statistical Area: Flagstaff
- 1 Unit: $525,550
- 2 Units: $672,800
- 3 Units: $813,250
- 4 Units: $1,010,700
Gila County, AZ, 2024 FHA Loan Limit
Metropolitan Statistical Area: Payson
- 1 Unit: $498,257
- 2 Units: $637,950
- 3 Units: $771,125
- 4 Units: $958,350
Graham County, AZ, 2024 FHA Loan Limit
Metropolitan Statistical Area: Safford
- 1 Unit: $498,257
- 2 Units: $637,950
- 3 Units: $771,125
- 4 Units: $958,350
Greenlee County, AZ, 2024 FHA Loan Limit
Metropolitan Statistical Area:Non-Metro
- 1 Unit: $498,257
- 2 Units: $637,950
- 3 Units: $771,125
- 4 Units: $958,350
La Paz County, AZ, 2024 FHA Loan Limit
Metropolitan Statistical Area: Non-Metro
- 1 Unit: $498,257
- 2 Units: $637,950
- 3 Units: $771,125
- 4 Units: $958,350
Maricopa County, AZ, 2024 FHA Loan Limit
Metropolitan Statistical Area: Phoenix-Mesa-Scottsdale
- 1 Unit: $530,150
- 2 Units: $678,700
- 3 Units: $820,350
- 4 Units: $1,019,550
Mohave County, AZ, 2024 FHA Loan Limit
Metropolitan Statistical Area: Lake Havasu City-Kingman
- 1 Unit: $498,257
- 2 Units: $637,950
- 3 Units: $771,125
- 4 Units: $958,350
Navajo County, AZ, 2024 FHA Loan Limit
Metropolitan Statistical Area: Show Low
- 1 Unit: $498,257
- 2 Units: $637,950
- 3 Units: $771,125
- 4 Units: $958,350
Pima County, AZ, 2024 FHA Loan Limit
Metropolitan Statistical Area:Tuscon
- 1 Unit: $498,257
- 2 Units: $637,950
- 3 Units: $771,125
- 4 Units: $958,350
Pinal County, AZ, 2024 FHA Loan Limit
Metropolitan Statistical Area: Phoenix-Mesa-Scottsdale
- 1 Unit: $530,150
- 2 Units: $678,700
- 3 Units: $820,350
- 4 Units: $1,019,550
Santa Cruz County, AZ, 2024 FHA Loan Limit
Metropolitan Statistical Area: Nogales
- 1 Unit: $498,257
- 2 Units: $637,950
- 3 Units: $771,125
- 4 Units: $958,350
Yavapai County, AZ, 2024 FHA Loan Limit
Metropolitan Statistical Area: Prescott
- 1 Unit: $498,257
- 2 Units: $637,950
- 3 Units: $771,125
- 4 Units: $958,350
Yuma County, AZ, 2024 FHA Loan Limit
Metropolitan Statistical Area: Yuma
- 1 Unit: $498,257
- 2 Units: $637,950
- 3 Units: $771,125
- 4 Units: $958,350
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 2024 Conforming Loan Limit set by the Federal Housing Finance Agency, which is $766,549; this gives a 2024 FHA floor limit of $498,257 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 2024 FHA loan limits to $1,019,550.
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.
Contact us today to get started on the Arizona FHA loan process right away!
