I have just been notified that my statement concerning the increase in the Fannie Mae/Freddie Mac loan limit for Maricopa County was wrong. The actual loan limit will be 125% of the median price for a specific zip code, not to exceed $729,250. Ex: If the median price in a Scottsdale zip code is $405,000 - then the new conforming loan limit will be $506,250. In this example, the limit will have increased by over $80,000 which will open the door to more buyers. This information comes straight from the Fannie Mae office, so there should be no discrepancies this time. I apologize for the bad information and will work hard to keep my blog full of only "good" information in the future!
Have a wonderful spring break and Easter holiday.
Jenny B
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