Updated January 2018
FHA Mortgage Loans: More Popular Than Ever
The FHA loan program has become more popular than ever. In the last few years, credit has become harder to get and people turned to FHA loans to realize their homeownership plans.
FHA mortgage loans are popular for new first time home buyers. It also appeals to individuals who’ve been through a short sale, foreclosure or other financial hardship in the past and are looking to get a mortgage.
For those people who currently have an FHA loan, FHA streamlines refinance is a great opportunity to reduce their interest rate and monthly payment while requiring only very few paperwork.
Get mortgage updates today, click here.FHA Loan Programs
The most popular FHA loan is the FHA 30-year fixed rate mortgage. However, that isn’t the only term that FHA mortgages offer or the only loan program that is possible. FHA loan terms often come in 10, 15, 20 or 25 years – depending on the FHA approved lender that you are working with. Popular FHA loan programs include:
- FHA streamline refinance
- FHA 203k rehab loan
- FHA adjustable rate mortgage
- FHA fixed rate mortgage
- FHA kiddie condo loan
HUD has approved a network of FHA-approved lenders who can help you with home financing. Not every lender is FHA approved. But if a lender is FHA approved, it means that they are regularly subjected to strict audits by the government and most likely are going to do their best to make sure you get in the right FHA loan program for your needs.
2018 FHA Loan Limits
Low-Cost Area FHA Loan Limits
| Property Size | Loan Limit |
| One-unit | $294,515 |
| Two-unit | $377,075 |
| Three-unit | $455,800 |
| Four-unit | $566,425 |
Check today's rates, click here.
High-Cost Area FHA Loan Limits
Don’t apply for Alaska, Guam, Hawaii and the U.S. Virgin Islands
| Property Size | Loan Limit |
| One-unit | $679,650 |
| Two-unit | $870,225 |
| Three-unit | $1,051,875 |
| Four-unit | $1,307,175 |
Still, the FHA loan limits ceiling in high-cost areas are calculated by considering the national conforming loan limit. Areas including Alaska, Guam, Hawaii and the U.S. Virgin Islands will have *special exceptions. Therefore, their loan limits for 2018 will be different and will be higher than the FHA loan limits ceiling. These areas’ FHA loan limits are set even higher due to the very high construction costs associated with them
*Special FHA Loan Limits for Alaska, Guam, Hawaii and the U.S. Virgin Islands
| Property Size | Loan Limit |
| One-unit | $1,019,475 |
| Two-unit | $1,305,325 |
| Three-unit | $1,577,800 |
| Four-unit | $1,960,750 |
To get an accurate figure for your specific mortgage situation, click here.
Get today’s mortgage rates!Get The Best Deal: Shop Around
The easiest way to get the best deal on an FHA loan is to shop for multiple FHA lenders and find one who can best help you.
Each lender will have their own tweaks to the FHA guidelines and may require certain things (such as a higher credit score, a higher down payment, multiple appraisals, etc). Also, each lender will have different rates each day.
Because of the different tweaks and the constantly changing mortgage rate marketplace, it is a great idea to get (in writing of course) multiple quotes from multiple lenders.
Start right here and get a free, no-obligation quote on your FHA loan today!
Ask our lenders about your mortgage options today.