Fannie Mae announced that they will now lend up to 97% in Phoenix, AZ, despite having declared Phoenix as a declining market in the past.

The good news is that this opens another door for homebuyers to qualify for owner occupied homes with quality 30 year fixed loans.

FHA $0 down move in cost loans are still available, but this is the second major move in the credit markets (the first being FHA to raise their loan limits to $346,000) in the Phoenix area.

Yet another feather in the local market's cap for good changes coming... otherwise known as rising home values.

Andrew Schmidt- Nations Home Funding- BK0905991

ACSchmidt4@aol.com 602.371.8600