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do fha loans have a standard limit or is it based on the area you live, or on appraised value of home?

I live in new mexico, would it be a state wide loan limit, county, federal? Or does it depend strictly on the home's appraised value? by stephanie1cruz1 from Santa Fe, New Mexico. Aug 22nd 2013 Reply


Adrielle Edwards (AdrielleEdwards)
#903 ranked lender in California - 96 contributions

It is based on the area that your live in, higher priced areas have much higher limits than other areas of the country. Use the FHA website to find your loan limit here: https://entp.hud.gov/idapp/html/hicostlook.cfm.

Aug 22nd 2013
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John Schweer (johnschweer)
#10 ranked lender in Missouri - 163 contributions

they are based by county for the loan limit

Aug 22nd 2013
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Jericho Cherry (Jerichocherry)
#56 ranked lender in Virginia - 1,107 contributions

Yes,the FHA loan limits are based on the area that you live in or purchasing the house in. You can go to the FHA website put in the property address and it will tell you the loan limit.

Aug 22nd 2013
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Ken Burrows (mortgagesforamerica)
#20 ranked lender in Nevada - 572 contributions

You can input your State and County here and find out the loan limits for your area: https://entp.hud.gov/idapp/html/hicostlook.cfm

Aug 22nd 2013
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Victor Navarro (Victor)
#889 ranked lender in California - 13 contributions

Below is the site where you can look up you county loan limit for FHA loans, but FYI. now days you could get a conventional loan with 3% instead of 3.5% down payment and lower MI than FHA loans. https://entp.hud.gov/idapp/html/hicostlook.cfm

Aug 22nd 2013
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William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,726 contributions

It's based on the county you live in as well as the property type.. if your purchasing a 4 plex for example, your loan limit would be much higher than if you purchase a single family home.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

Aug 22nd 2013
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Rick Schmille (Schmillenium)
#5 ranked lender in New Mexico - 20 contributions

In Santa Fe the loan limit is $427,500. You are allowed to borrow up to 96.5% of the appraised value.Rick SchmilleOpen Mortgage, LLCAlbuquerque250-7670

Aug 22nd 2013
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Carlo Sanchez (MortgageLendingPro)
#0 ranked lender in Utah - 1,163 contributions

It's by County and look up your counties limit

Aug 22nd 2013
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Dave Metsker (DaveMetsker)
#37 ranked lender in Oregon - 2,317 contributions

The loan limit in most areas is $417,000.

Aug 22nd 2013
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Charlie Sparks (CharlieSparks)
#9 ranked lender in New Mexico - 398 contributions

Hi Stephanie, There are 3 counties in NM that allow for higher FHA loan limits. Santa Fe County is one. Is the loan limit causing problems for you? If so I may be able to help. I'm in Albuquerque and have some non-FHA loan products that may be a solution. Let me know how I can help. Charlie Sparks, NMLS# 195031, charlie@pinnaclecapitalnm.com

Aug 22nd 2013
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Peter Botros (PeterBotros)
#70 ranked lender in New York - 895 contributions

Based on county. each county has a different limit

Aug 22nd 2013
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Elden Lewis (elewis_409_299)
#41 ranked lender in Indiana - 223 contributions

The loan limits are by county or rather MSA's. Go to this link and you can look the limits for the county you are looking in. https://entp.hud.gov/idapp/html/hicostlook.cfm

Aug 22nd 2013
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Ernesto Marez (Ernesto)
#68 ranked lender in Maryland - 137 contributions

FHA loan limits are set by county not the state. see below: they are in order of Single family home, duplex, tri plex and 4 plexCounty NameSingle FamilyDuplexTri-plexFour-plex-------------------------------------------------------------------------------- BERNALILLO$271,050$347,000$419,425$521,250 ALBUQUERQUE, NM (MSA)-------------------------------------------------------------------------------- CATRON$271,050$347,000$419,425$521,250 NON-METRO-------------------------------------------------------------------------------- CHAVES$271,050$347,000$419,425$521,250 ROSWELL, NM (MICRO)-------------------------------------------------------------------------------- CIBOLA$271,050$347,000$419,425$521,250 GRANTS, NM (MICRO)-------------------------------------------------------------------------------- COLFAX$271,050$347,000$419,425$521,250 NON-METRO-------------------------------------------------------------------------------- CURRY$271,050$347,000$419,425$521,250 CLOVIS, NM (MICRO)-------------------------------------------------------------------------------- DE BACA$271,050$347,000$419,425$521,250 NON-METRO-------------------------------------------------------------------------------- DONA ANA$271,050$347,000$419,425$521,250 LAS CRUCES, NM (MSA)-------------------------------------------------------------------------------- EDDY$271,050$347,000$419,425$521,250 CARLSBAD-ARTESIA, NM (MICRO)-------------------------------------------------------------------------------- GRANT$271,050$347,000$419,425$521,250 SILVER CITY, NM (MICRO)-------------------------------------------------------------------------------- GUADALUPE$271,050$347,000$419,425$521,250 NON-METRO-------------------------------------------------------------------------------- HARDING$271,050$347,000$419,425$521,250 NON-METRO-------------------------------------------------------------------------------- HIDALGO$271,050$347,000$419,425$521,250 NON-METRO-------------------------------------------------------------------------------- LEA$271,050$347,000$419,425$521,250 HOBBS, NM (MICRO)-------------------------------------------------------------------------------- LINCOLN$271,050$347,000$419,425$521,250 RUIDOSO, NM (MICRO)-------------------------------------------------------------------------------- LOS ALAMOS$380,650$487,300$589,000$732,000 LOS ALAMOS, NM (MICRO)-------------------------------------------------------------------------------- LUNA$271,050$347,000$419,425$521,250 DEMING, NM (MICRO)-------------------------------------------------------------------------------- MCKINLEY$271,050$347,000$419,425$521,250 GALLUP, NM (MICRO)-------------------------------------------------------------------------------- MORA$271,050$347,000$419,425$521,250 NON-METRO-------------------------------------------------------------------------------- OTERO$271,050$347,000$419,425$521,250 ALAMOGORDO, NM (MICRO)-------------------------------------------------------------------------------- QUAY$271,050$347,000$419,425$521,250 NON-METRO-------------------------------------------------------------------------------- RIO ARRIBA$271,050$347,000$419,425$521,250 ESPANOLA, NM (MICRO)-------------------------------------------------------------------------------- ROOSEVELT$271,050$347,000$419,425$521,250 PORTALES, NM (MICRO)-------------------------------------------------------------------------------- SAN JUAN$281,250$360,050$435,200$540,850 FARMINGTON, NM (MSA)-------------------------------------------------------------------------------- SAN MIGUEL$271,050$347,000$419,425$521,250 LAS VEGAS, NM (MICRO)-------------------------------------------------------------------------------- SANDOVAL$271,050$347,000$419,425$521,250 ALBUQUERQUE, NM (MSA)-------------------------------------------------------------------------------- SANTA FE$427,500$547,250$661,500$822,100 SANTA FE, NM (MSA)-------------------------------------------------------------------------------- SIERRA$271,050$347,000$419,425$521,250 NON-METRO-------------------------------------------------------------------------------- SOCORRO$271,050$347,000$419,425$521,250 NON-METRO-------------------------------------------------------------------------------- TAOS$286,350$366,550$443,100$550,650 TAOS, NM (MICRO)-------------------------------------------------------------------------------- TORRANCE$271,050$347,000$419,425$521,250 ALBUQUERQUE, NM (MSA)-------------------------------------------------------------------------------- UNION$271,050$347,000$419,425$521,250 NON-METRO-------------------------------------------------------------------------------- VALENCIA$271,050$347,000$419,425$521,250 ALBUQUERQUE, NM (MSA)

Aug 22nd 2013
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Andrew Alfonso (CashCow)
#43 ranked lender in Florida - 271 contributions

Yes. Sure do.

Aug 22nd 2013
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