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FHA Mortgage Loan Limit Calculator
The Federal Housing Administration (FHA) offers the FHA Mortgage Program to help moderate-income individuals or individuals with limited funds purchase homes. There are limits to the size of mortgage you can obtain through the FHA program. Input your state, county and number of units for the property you are buying to determine the FHA mortgage limit in your area. You can also use our FHA Mortgage Qualification Calculator to determine the FHA mortgage you qualify for and review other details about the program
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Points  :Points: Fees you are willing to pay in order to get a lower interest rate. The number of points refers to the percentage of the loan amount that you would pay. For example, "2 points" means a charge of 2% of the loan amount. |
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Monthly Housing Payments
| P & I Principal & Interest: A periodic payment, usually paid monthly, that includes the interest charges for the period plus an amount applied to the reduction of the principal balance. |
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| Mortgage Insurance Mortgage Insurance: The monthly cost for a policy that protects the lender in case you’re unable to repay the full amount of the loan. It is typically required for loans that have a loan-to-value ratio between 80% to 100%. |
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| Property Tax Property Tax: (Also called "Real Estate Tax.") Property taxes are government assessments on real estate property. With mortgage financing, the local, county or state tax assessment on real estate property is considered part of the monthly housing obligation and typically collected and set aside by the lender ... |
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| Homeowner Insurance Homeowner Insurance: or also commonly called hazard insurance, is the type of property insurance that covers private homes. It is an insurance policy that combines various personal insurance protections, which can include losses occurring to one’s home, its contents, loss of its use, or loss of other personal possessions of the homeowner, as well as liability insurance for accidents that may happen at the home or at the hands of the homeowner within the policy territory.lender ... |
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| Homeowner Association Fee Homeowner Association fee: (HOA) fees are funds that are collected from homeowners in a condominium complex to obtain the income needed to pay (typically) for master insurance, exterior and interior (as appropriate) maintenance, landscaping, water, sewer, and garbage costs. |
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Lender Fees
| Points Points Fees you are willing to pay in order to get a lower interest rate. The number of points refers to the percentage of the loan amount that you would pay. For example, "2 points" means a charge of 2% of the loan amount. |
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| Origination Fee Origination Charge: A loan origination charge is a fee charged by the lender for evaluating, processing, and closing the loan. |
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| Credit Report Fee Credit Report Fee: Fee charged to obtain an applicant’s credit history prepared by one or all of the three major credit bureaus. Used by lender to determine the borrower’s creditworthiness. |
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| Tax Service Fee Tax Service Fee: A fee charged by the lender to cover the cost of retaining a tax service agency. These agencies monitor the property tax payments on the property and report the results to the lender. |
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| Processing Fee Processing Fee: A processing fee is a charge by the lender for clerical items associated with the loan. Examples of processing include loan set up, organization of loan conditions for underwriting, and preparing required disclosures for the borrower. |
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| Underwriting Fee Underwriting Fee: A fee charged by the lender to verify information on the loan application, authenticate the property’s value, and perform a risk analysis on the overall loan package. |
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| Wire Transfer Fee Wire Transfer Fee: In most cases lenders wire funds to escrow companies to fund a loan. Commercial banks that perform this function will charge the lender so the fee is generally passed on to the borrower. |
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| FHA Upfront Premium FHA Upfront Premium: A fee paid in cash at the close of escrow or more commonly it is financed into the loan. These premiums are pooled together by the FHA and are used to insure the risk of borrower default on FHA loans. FHA upfront premiums are prorated over a five year period, meaning should the homeowner refinance or sell during the first five years of the loan, they are entitled to a partial refund of the FHA upfront premium paid at loan inception. |
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| Other Fees Other fees could be either additional Administrative Fees that a lender charges or it could be a Flat Fee to cover all lender charges such as: (Origination Fees, Points, Underwriting and Processing Fees, Credit Reports and Tax Service Fees) The flat fee does not include prepaid items and third party costs such as appraisal fees, recording fees, prepaid interest, property & transfer taxes, homeowners insurance, borrower’s attorney’s fees, private mortgage insurance premiums (if applicable), survey costs, title insurance and related services. |
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How FHA Loan Limits Work
FHA Loan Limits Vary by County
FHA loan limits vary by county and by the number of units in the property being financed with single unit properties having the lowest loan limits. There is one set of loan limits for the 48 contiguous United States, Washington D.C. and Puerto Rico and a higher set of loan limits for Alaska, Hawaii, Guam and the U.S. Virgin Islands. In the contiguous U.S., Washington D.C. and Puerto Rico, FHA loan limits for a single unit property such as a home or condominium range from $275,665 to $636,150 in counties with a higher cost of living and housing prices. The limit for a four unit property ranges from $530,150 to $1,223,475 in high cost counties. In Alaska, Hawaii, Guam and the U.S. Virgin Islands FHA loan limits range from $954,225 for a single unit property to $1,835,200 for a four unit property.
FHA Program Property Eligibility Requirements
The FHA home loan program applies to one-to-four unit owner occupied primary residences. If you use an FHA mortgage to buy a multi-unit property you must live in one of the units. Second and vacation homes as well as non-owner occupied investment properties are ineligible for the FHA home loan program.
More FREEandCLEAR Mortgage Resources
FHA Home Loan Program Overview
Review our comprehensive overview of the FHA home loan program including borrower qualification requirements and other key program features such as property eligibility and FHA mortgage insurance premium (MIP) fees
FHA Mortgage Qualification Calculator
Calculate what size FHA home loan you can afford based on your monthly gross income and debt
Pros and Cons of an FHA Home Loan
Understand the pros and cons of an FHA home loan to determine if it is the right low down payment mortgage option for you
FHA Interest Rates
Use our FHA interest rate table to review updated FHA rates and fees for lenders in your area. Comparing multiple lenders is the best way to find the FHA mortgage with the lowest interest rate and costs