FHA Loan Limits

The Federal Housing Administration (FHA) is what has made it possible for Americans with lower incomes and credit ratings to be able to stop renting and purchase their own homes. This type of agency was needed because these particular Americans could not easily qualify for a loan from non-FHA-backed lenders. The FHA makes it easier for their approved lenders to offer these Americans a loan by backing their mortgages.

Just recently, United States legislators have increased the FHA loan limits back to previous levels that were raised in response to the housing crisis in America. This means that even larger loans can still be guaranteed by the FHA. Now, the FHA loan limit is equal to $729,750 for high cost areas, and people qualifying for these loans may offer a down payment as low as 3.5 percent.

In October of 2011, the higher FHA limits temporarily fell back to the previous levels that existed before the crisis, with some FHA county loan limits being reduced to $625,500 in some high cost New York and California counties. FHA county loan limits even fell below those of Freddie Mac and Fannie Mae, which also saw a decline in the FHA loan limit in 250 counties.

While the agreement to raise the FHA limits to previous levels has faces some criticisms, it will undoubtably continue to help families purchase homes in higher cost areas where decreasing FHA mortgage limits could be detremental to the housing markets. With the FHA county loan limits being raised, low down payment options will still be available. Due to the potential effects of decreasing the FHA loan limits on housing, the government saw a need to act to continue it's assistance in housing recovery by once again raising them.

The new FHA loan limits 2012 will give people the ability to obtain a mortgage in high cost areas between $625,500 and $729,750 with the backing of the United States Government, and they won't have to have a 20 percent down payment. This will especially benefit people in Californiand New York because these states have several counties where the FHA loan limits 2012 are between the numbers listed above. For example, Alameda County, CAhas an FHA loan limit equal to $625,500. People wishing to purchase a house in this area for this amount will have a great opportunity to do so.

How are FHA loan limits determined?

Maximum FHA loan-to-value financing amount: Depending on the state where the property is located, FHA Loan Requirements state that the maximum financing will be 96.5% of the lower of the purchase price, the appraised value of the home or the amount you are refinancing plus closing costs. If you are refinancing and taking cash out, the FHA Loan amount will be limited to 85% of the appraised value.

FHA Loan Limits By State

• Alabama FHA Limits
  Including FHA limits for Birmingham, Montgomery, Mobile, Huntsville, Tuscaloosa, Hoover, Dothan, Decatur, Auburn, Madison...


• Alaska FHA Limits
  Including FHA limits for Anchorage, Fairbanks, Juneau, Sitka, Wasilla, Kenai, Ketchikan, Palmer, Kodiak, Bethel...


• Arizona FHA Limits
  Including FHA limits for Phoenix, Tucson, Mesa, Chandler, Glendale, Scottsdale, Gilbert, Tempe, Surprise, Yuma, Peoria...
  
  
• Arkansas FHA Limits
  Including FHA limits for Little Rock, Fort Smith, North Little Rock, Fayetteville, Jonesboro, Pine Bluff, Springdale, Conway, Rogers, Hot Springs...
  
  
• California FHA Limits
  Including FHA limits for Los Angeles, San Diego, San Jose, San Francisco, Fresno, Sacramento, Long Beach, Oakland, Anaheim, Bakersfield, Santa Ana, Riverside, Stockton, Chula Vista, Irvine, Fremont, Modesto, San Bernardino, Glendale, Trabuco, Huntington Beach, Newhall, Oxnard, El Toro, Oceanside, Rancho Cucamonga, Ontario, Santa Clarita, Garden Grove, Santa Rosa, Pomona, Corona, Fontana, Lancaster, Salinas, Palmdale, Pasadena, Torrance, Escondido, Orange, Sunnyvale, Fullerton, Thousand Oaks, Concord, Visalia, Elmonte, Simi Valley, Roseville, Vallejo, Inglewood, Jurupa, Santa Clara, Victorville, Ventura, Costa Mesa, Mather, Downey, West Covina, Fairfield, Richmond, Burbank, Berkely, Norwalk, Daly City, Antioch...


• Colorado FHA Limits
  Including FHA limits for Denver, Colorado Springs, Aurora, Fort Collins, Lakewood, Thornton, Pueblo, Arvada, Westminster, Centennial, Boulder...


• Connecticut FHA Limits
  Including FHA limits for Bridgeport, Hartford, New Haven, Stamford, Waterbury, Norwalk, Danbury, New Britan, Greenwich, Bristol...


• Delaware FHA Limits
  Including FHA limits for Wilmington, Dover, Newark, Middleton, Smyrna, Milford, Seaford, Georgetown, Elsmere, New Castle...


• DC FHA Limits
  Includes Washington D.C.


• Florida FHA Limits
  Including FHA limits for Miami, Fort Lauderdale, Tampa, St. Petersburg, Orlando, Jacksonville, Sarasota, Fort Myers, Daytona Beach, Pensacola, Tallahassee, Port St. Lucie, Cape Coral, Miramar, Clearwater, Gainesville, Palm Bay


• Georgia FHA Limits
  Including FHA limits for Atlanta, Augusta, Columbus, Savannah, Athens, Sandy Springs, Macon, Roswell, Albany, Johns Creek...


• Hawaii FHA Limits
  Including FHA limits for Honolulu, Hilo, Kailua, Kaneohe, Waipahu, Pearl City, Waimalu, Mililani, Kahului, Kihei...


• Idaho FHA Limits
  Including FHA limits for Boise, Nampa, Meridian, Idaho Falls, Pocatello, Caldwell, Coeur d'Alene, Twin Falls, Lewiston, Post Falls


• Illinois FHA Limits
  Including FHA limits for Chicago, Aurora, Rockford, Joliet, Naperville, Springfield, Peoria, Elgin, Champaign, Cicero, Evanston, Decatur, Bloomington, Arlington Heights, Shaumburg, Bolingbrook, Palatine, Skokie, Tinley Park, Des Plaines, Orland Park, Wheaton, Hoffman Estates, Oak Park, Mount Prospect, Oak Lawn, Normal


• Indiana FHA Limits
  Including FHA limits for Indianapolis, Fort Wayne, Evansville, South Bend, Gary, Hammond, Bloomington, Muncie, Lafayette, Carmel...


• Iowa FHA Limits
  Including FHA limits for Des Moines, Cedar Rapids, Davenport, Sioux City, Iowa City, Waterloo, Council Bluffs, Duboque, Ames, West Des Moines...


• Kansas FHA Limits
  Including FHA limits for Wichita, Overland Park, Kansas City, Topeka, Olathe, Lawrence, Shawnee, Manhattan
• Kentucky FHA Limits
  Including FHA limits for Lexington, Fayette, Louisville, Bowling Green, Owensboro...


• Louisiana FHA Limits
  Including FHA limits for New Orleans, Baton Rouge, Shreveport, Metarie, Lafayette, Lake Charles, Kenner, Bossier City...


• Maine FHA Limits
  Including FHA limits for Portland, Lewiston, Bangor, South Portland...


• Maryland FHA Limits
  Including FHA limits Baltimore, Columbia, Silver Spring, Dundalk, Rockville, Ellicott City, Gaithersburg...


• Massachusetts FHA Limits
  Including FHA limits for Boston, Worcester, Springfield, Cambridge, Lowell, Brockton, New Bedford...


• Michigan FHA Limits
  Including FHA limits for Detroit, Grand Rapids, Warren, Sterling Heights, Lansing, Ann Arbor, Flint, Livonia...


• Minnesota FHA Limits
  Including FHA limits for Minneapolis, St. Paul, Rochester, Duluth, Bloomington, Plymouth...


• Mississippi FHA Limits
  Including FHA limits for Jackson, Gulfport, Hattiesburg, Biloxi, Southaven, Meridian, Tupelo...


• Missouri FHA Limits
  Including FHA limits for Kansas City, St. Louis, Springfield, Independence, Columbia, Lee's Summit...


• Montana FHA Limits
  Including FHA limits for Billings, Missoula, Great Falls...


• Nebraska FHA Limits
  Including FHA limits for Omaha, Lincoln, Bellevue...


• Nevada FHA Limits
  Including FHA limits for Las Vegas, Henderson, Paradise, North Las Vegas, Reno, Sunrise Manor, Spring Valley...
• New Hampshire FHA Limits
  Including FHA limits for Manchester, Nashua, Concord...


• New Jersey FHA Limits
  Including FHA limits Newark, Jersey City, Paterson, Elizabeth, Edison, Toms River, Trenton, Camden...


• New Mexico FHA Limits
  Including FHA limits Albuquerque, Las Cruces, Rio Rancho, Santa Fe...


• New York FHA Limits
  Including FHA limits for New York, Brooklyn, Queens, Manhattan, Bronx, Staten Island, Buffalo, North Hempstead, Rochester, Yonkers, Syracuse, Ramapo, Amherst, Albany...


• North Carolina FHA Limits
  Including FHA limits for Charlotte, Raleigh, Greensboro, Winston-Salem, Durham, Cary, Fayetteville, High Point, Wilmington...


• North Dakota FHA Limits
  Including FHA limits for Fargo, Bismark, Grand Forks...


• Ohio FHA Limits
  Including FHA limits for Cleveland, Columbus, Cincinnati, Toledo, Akron, Dayton, Canton...


• Oklahoma FHA Loan Limits
  Including FHA limits for Oklahoma City, Tulsa, Norman, North Cleveland, Broken Arrow, Lawton...


• Oregon FHA Limits
  Including FHA limits for Portland, Salem, Eugene, Gresham, Hillsboro, Beaverton, Bend...


• Pennsylvania FHA Limits
  Including FHA limits for Philadelphia, Pittsburg, Allentown, Erie, Reading, Bethlehem, Scranton...


• Rhode Island FHA Limits
  Including FHA limits for Providence, Warwick, Cranston, Pawtucket...


• South Carolina FHA Limits
  Including FHA limits for Columbia, Charleston, Rock Hill, Dutch Fork, Mount Pleasant, Greenville...
• South Dakota FHA Limits
  Including FHA limits for Sioux Falls, Rapid City, Aberdeen...


• Tennessee FHA Limits
  Including FHA limits Memphis, Nashville, Knoxville, Chattanooga, Clarksville, Murfreesboro, Jackson, Johnson City, Franklin...


• Texas FHA Limits
  Including FHA limits for Houston, San Antonio, Dallas, Austin, Fort Worth, El Paso, Arlington, Corpus Christi, Plano, Laredo, Lubbock, Garland, Irving, Amarillo, Brownsville, Grand Prarie, PAsadena, Mesquite, McAllen, Carrolton, McKinney, Waco, Denton, Killeen, Abilene, Beaumont, Midland, Round Rock, Lewisville, Richardson, Frisco, Wichita Falls, Odessa, Tyler, San Angelo, College Station...


• Utah FHA Limits
  Including FHA limits for Salt Lake City, Provo, Sandy, Orem, Ogden, West Jordan, St George, Layton...


• Vermont FHA Limits
  Including FHA limits for Burlington, Essex, Colchester...


• Virginia FHA Limits
  Including FHA limits Virginia Beach, Norfolk, Chesapeake, Arlington, Richmond, Newport News, Alexandria, Hampton, Portsmouth, Roanoke, Suffolk...


• Washington FHA Limits
  Including FHA limits for Seattle, Spokane, Tacoma, Vancouver, Bellevue, Everett, Kent, Bellingham...


• West Virginia FHA Limits
  Including FHA limits for Charleston, Huntington, Pakersburg...


• Wisconsin FHA Limts
  Including FHA limits for Milwaukee, Madison, Green Bay, Kenosha, Racine, Appleton, Waukesha...


• Wyoming FHA Limits
  Including FHA limits for Cheyenne, Casper, Laramie...