2018 FHA mortgage limits announced, nearly all counties increasing

On December 7, 2017 Federal Housing Administration announced new 2018 FHA mortgage limits, effective for FHA case #’s pulled on or after 1/1/18.

The official website to look up 2018 FHA mortgage limits by county can be found at FHA Mortgage Limits Search.2018 FHA mortgage limits

The “floor” mortgage limit, which is the FHA national low-cost area mortgage limit, has increased from $275,665 to $294,515 for one-unit properties.  That means someone can put just 3.5% down on a sales price up to $305,196.  The FHA national low-cost area mortgage limits for 1-4-unit properties are:

  • One-unit: $294,515
  • Two-unit: $377,075
  • Three-unit: $455,800
  • Four-unit: $566,425

The “ceiling” mortgage limit, which is the FHA national high-cost area mortgage limit for higher cost areas (ex. Los Angeles, San Francisco, Washington DC, New York), has increased from $636,150 up to $679,650 for one-unit properties.  That means someone can put just 3.5% down on a sales price up to $704,300.  The FHA national high-cost area mortgage limits for 1-4-unit properties are:

  • One-unit: $679,650
  • Two-unit: $870,225
  • Three-unit: $1,051,875
  • Four-unit: $1,307,175

For those seeking FHA financing in Alaska, Hawaii, Guam and the Virgin Islands, due to higher costs of construction, those mortgage limits have increased to $1,019,475 (although if you search, you’ll find that the actual limits are much less).  The mortgage limits for 1-4-unit properties in those 4 areas are:

  • One-unit: $1,019,475
  • Two-unit: $1,305,325
  • Three-unit: $1,577,800
  • Four-unit: $1,960,750

Further details can be found in Mortgagee Letter 17-16 (.pdf).

A list of Areas at Ceiling (.pdf) and a list of Areas Between Floor and Ceiling (.pdf).

If you need help with an FHA mortgage, here in California or any of our other 50 states, please call or email me and I’d be happy to help you out.

Shane Milne
Senior Loan Officer
Phone:  949-322-3616
Fax:  949-231-1448
NMLS #81195
shane@thebesthomeloans.com

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