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2018 FHA Loan Limits

January 3rd, 2018 7:05 AM by Jackie A. Graves, President

FHA Loan Limits for 2018

Low Cost Area Limits (the “Floor”)

The following table shows the standard FHA loan limits for areas that are not considered high cost.

Loan Type

One Unit

Two Units

Three Units

Four Units

FHA Forward

$294,515

$377,075

$455,800

$566,425

High-Cost Area Limits (the “Ceiling”)

The following numbers apply to high-cost areas.  Please note that high-cost areas vary from state to state, and not all states have high-cost areas. You can also view the entire list of high-cost area FHA loan limits here.

Loan Type

One Unit

Two Units

Three Units

Four Units

FHA Forward

$679,650

$870,225

$1,051,875

$1,307,175

Areas Between the Floor and the Ceiling

There are a number of counties in multiple states whose limits fall between the FHA floor and ceiling. You can see the entire list for 2108 here.

 

Alaska, Guam, Hawaii, and the Virgin Islands 

According to the National Housing Act, loan limits for Alaska, Guam, Hawaii, and the Virgin Islands can be adjusted up to 150% of the high-cost area ceilings. Ceilings in these areas are as follows:

Loan Type

One Unit

Two Units

Three Units

Four Units

FHA Forward

$1,019,475

$1,305,325

$1,577,800

$1,960,750

 

Home Equity Conversion Mortgages (HECMs)

In 2018, National Mortgage Limit for FHA-insured Home Equity Conversion Mortgages (HECMs), or reverse mortgages, increased to $679,650 from $636,150. FHA does not allow loan limits for reverse mortgages to vary by county, so the limit applies to all properties  regardless of where they are located.

Loan Type

One Unit

Two Units

Three Units

Four Units

HECM

$679,650

n/a

n/a

n/a

Search for FHA Loan Limits by County

To search for FHA loan limits for a specific address, visit the US Department of Housing and Urban Development’s website. You can search by county to find the exact limits for an FHA loan in your area.

To view the original article click here

Posted by Jackie A. Graves, President on January 3rd, 2018 7:05 AM

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