For a single-family home loan this year, FHA loan limits range from a floor of $420,680 to a maximum of $970,800.
Areas like Alaska, Hawaii, U.S. Virgin Islands have special considerations where the minimum FHA loan amount is $1,456,200 and the FHA max loan amount is $1,864,575.
For example, if you are planning to buy a single-unit single-family home in Houston TX, your max loan amount would be $420,680.
However, if you are planning to buy a single-unit home in Hawaii, your maximum loan amount would be $1,456,200.
As the loan limits for FHA loans are influenced by conforming loan limits, there was an increase in the conforming loan limits for this year. Due to this, the lower basic limit for FHA was increased by 65% compared to conventional loans.
To be approved for an FHA loan, your mortgage must be within the maximum loan amount backed by FHA.
These loan amounts, known as “FHA loan limits,” may differ based on the county that your property is located.
This year, the Department of Housing and Urban Development (HUD) has increased the FHA loan limits to 3,188 counties and there are 45 counties where there are no changes in the loan limit.