HUD No. 2017-12-08 | For
Release Friday December 8, 2017 |
FHA HIKES MORTGAGE LIMITS
On, December 7th, HUD announced that the limits on mortgages insured by FHA - the Federal Housing Administration - will be raised in virtually all of the nation's housing markets effective January 1, 2018.
Below you will see a chart outlining the changes that will occur in Northwest and Alaska housing markets on January 1st. In the first line of each chart you will see the reference STATEWIDE. That reflects the changes to take effect in every market in that state and across the nation. Below that reference, however, you will see a list of "higher-cost" markets and the increases that will take effect for them on that date.
Since its establishment in 1930's, FHA has insured over 1.8 million mortgages in Alaska, Idaho, Oregon and Washington with a total dollar value of more than $216 billion. With a down-payment requirement of just 3.5 percent, last year 82 percent of its borrowers were first-time homebuyers.
ALASKA - As of November 2nd, there were a total of 17,702 "active" FHA-insured mortgages in Alaska with a total dollar value of $3.7 billion.
LOCATION | 2017 1-family limit |
2018 1-family limit |
2017 2-family limit |
2018 2-family limit |
2017 3-family limit |
2018 3-family unit |
2017 4-family limit |
2018 4-family unit |
ALASKA STATEWIDET | $275,665 |
$294,515 |
$352,950 |
$377,075 |
$426,625 |
$455,800 |
$530,150 |
$566,425 |
ALEUTIANS WEST | $385,250 |
$385,250 |
$493,200 |
$493,200 |
$596,150 |
$596,150 |
$740,850 |
$740,850 |
ANCHORAGE MUNIC | $396,750 |
$396,750 |
$507,900 |
$507,900 |
$613,950 |
$613,950 |
$763,000 |
$763,000 |
BRISTOL BAY BOR | $313,950 |
$313,950 |
$401,900 |
$401,900 |
$485,800 |
$485,800 |
$603,750 |
$603,750 |
DENALI BOROUGH | $297,850 |
$297,850 |
$381,300 |
$381,300 |
$460,900 |
$460,900 |
$572,800 |
$572,800 |
DILLINGHAM CENS | $275,665 |
$297,850 |
$352,950 |
$381,300 |
$426,625 |
$460,900 |
$530,150 |
$572,800 |
FAIRBANKS NORTH | $275,665 |
$294,515 |
$352,950 |
$377,075 |
$426,625 |
$455,800 |
$530,150 |
$566,425 |
HAINES BOROUGH | $284,050 |
$294,515 |
$363,600 |
$377,075 |
$439,550 |
$455,800 |
$546,250 |
$566,425 |
HOONAH-ANGOON C | $281,750 |
$294,515 |
$360,700 |
$377,075 |
$436,000 |
$455,800 |
$541,800 |
$566,425 |
JUNEAU CITY AND | $425,500 |
$427,800 |
$544,700 |
$547,650 |
$658,450 |
$662,000 |
$818,250 |
$822,700 |
KENAI PENINSULA | $275,665 |
$294,515 |
$352,950 |
$377,075 |
$426,625 |
$455,800 |
$530,150 |
$566,425 |
KETCHIKAN GATEW | $325,450 |
$338,100 |
$416,600 |
$432,800 |
$503,600 |
$523,200 |
$625,850 |
$650,200 |
KODIAK ISLAND B | $381,800 |
$381,800 |
$488,750 |
$488,750 |
$590,800 |
$590,800 |
$734,250 |
$734,250 |
MATANUSKA-SUSIT | $396,750 |
$396,750 |
$507,900 |
$507,900 |
$613,950 |
$613,950 |
$763,000 |
$763,000 |
NOME CENSUS ARE | $353,050 |
$391,000 |
$451,950 |
$500,550 |
$546,300 |
$605,050 |
$678,950 |
$751,900 |
NORTH SLOPE BOR | $332,350 |
$332,350 |
$425,450 |
$425,450 |
$514,300 |
$514,300 |
$639,150 |
$639,150 |
PETERSBURG CENS | $332,350 |
$332,350 |
$425,450 |
$425,450 |
$514,300 |
$514,300 |
$639,150 |
$639,150 |
PRINCE OF WALES | $275,665 |
$294,515 |
$352,950 |
$377,075 |
$426,625 |
$455,800 |
$530,150 |
$566,425 |
SITKA CITY AND | $451,950 |
$458,850 |
$578,550 |
$587,400 |
$699,350 |
$710,050 |
$869,150 |
$882,400 |
SKAGWAY MUNICIP | $415,150 |
$415,150 |
$531,450 |
$531,450 |
$642,400 |
$642,400 |
$798,350 |
$798,350 |
VALDEZ-CORDOVA | $293,250 |
$294,515 |
$375,400 |
$377,075 |
$453,750 |
$455,800 |
$563,950 |
$566,425 |
WRANGELL CITY A | $332,350 |
$332,350 |
$425,450 |
$425,450 |
$514,300 |
$514,300 |
$639,150 |
$639,150 |
YAKUTAT CITY AN | $420,900 |
$420,900 |
$538,800 |
$538,800 |
$651,300 |
$651,300 |
$809,450 |
$809,450 |
IDAHO - As of November 2, 2017 there were 52,057 "active" FHA-insured mortgages in Idaho with a total dollar value of $7.4 billion.
LOCATION | 2017 1-family limit |
2018 1-family limit |
2017 2-family limit |
2018 2-family limit |
2017 3-family limit |
2018 3-family unit |
2017 4-family limit |
2018 4-family unit |
STATEWIDE | $275,665 |
$294,515 |
$352,950 |
$377,075 |
$426,625 |
$455,800 |
$530,150 |
$566,425 |
BLAINE | ^636,150 |
$646,300 |
$814,500 |
$827,400 |
$984,525 |
$1,000,100 |
$1,223,475 |
$566,425 |
CAMAS | $636,150 |
$646,300 |
$814,500 |
$827,400 |
$984,525 |
$1,000,100 |
$1,223,475 |
$566,425 |
LINCOL N | $636,150 |
$646,300 |
$814,500 |
$827,400 |
$984,525 |
$1,000,100 |
$1,223,475 |
$566,425 |
TETON | 636150 |
$679,650 |
$814,500 |
$870,225 |
$984,525 |
$1,051,875 |
$1,223,475 |
$566,425 |
OREGON - As of November 2, 2017 there were 75,179 "active" FHA-insured mortgages in Alaska with a total dollar value of $14.9 billion.
LOCATION | 2017 1-family limit |
2018 1-family limit |
2017 2-family limit |
2018 2-family limit |
2017 3-family limit |
2018 3-family unit |
2017 4-family limit |
2018 4-family unit |
STATEWIDE | $275,665 |
$294,515 |
$352,950 |
$377,075 |
$426,625 |
$455,800 |
$530,150 |
$566,425 |
CORVALLIS/BENTONB | $323,150 |
$356,500 |
$413,700 |
$456,350 |
$500,050 |
$551,650 |
$621,450 |
$685,550 |
PORTLAND -VANCOUVER -MULTNOMAH - CLACKAMAS -WASHINGTON -COLUMBIA -YAHILL -CLARK | $408,250 |
$448,500 |
$522,600 |
$574,150 |
$631,750 |
$694,000 |
$785,100 |
$682,500 |
CLATSOP/ASTORIA | $281,750 |
$299,000 |
$360,700 |
$382,750 |
$436,000 |
$462,650 |
$541,800 |
$575,000 |
DESCHUTES/BEND/REDMOND | $342,700 |
$373,750 |
$438,700 |
$478,450 |
$530,300 |
$578,350 |
$659,050 |
$718,750 |
HOOD RIVER | $391,000 |
$454,250 |
$500,550 |
$581,500 |
$605,050 |
$702,900 |
751900 |
$873,550 |
JACKSON/MEDFORD | $280,600 |
$302,450 |
$359,200 |
$387,200 |
$434,200 |
$468,000 |
$539,600 |
$581,650 |
LINCOLN/HERMISTON | $276,000 |
$294,515 |
$352,950 |
$377,075 |
$426,625 |
$455,800 |
$530,150 |
$566,425 |
WASHINGTON - As of November 2, 2017 there were 155,024 "active" FHA-insured mortgages in Washington state with a total dollar value of $32.4 billion.
LOCATION | 2017 1-family limit |
2018 1-family limit |
2017 2-family limit |
2018 2-family limit |
2017 3-family limit |
2018 3-family limit |
2017 4-family limit |
2018 4-family unit |
STATEWIDE | $275,665 |
$294,515 |
$352,950 |
$377,075 |
$426,625 |
$455,800 |
$530,150 |
$566,425 |
CHELAN | $342,700 |
$342,700 |
$438,700 |
$438,700 |
$530,300 |
$530,300 |
$659,050 |
$659,050 |
CLALLAM | $384,100 |
$384,100 |
$491,700 |
$491,700 |
$594,350 |
$594,350 |
$738,650 |
$738,650 |
CLARK | $408,250 |
$448,500 |
$522,600 |
$574,150 |
$631,750 |
$694,000 |
$785,100 |
$862,500 |
DOUGLAS | $342,700 |
$342,700 |
$438,700 |
$438,700 |
$530,300 |
$530,300 |
$659,050 |
$659,050 |
ISLAND | $327,750 |
$345,000 |
$419,550 |
$441,650 |
$507,150 |
$533,850 |
$630,300 |
$663,450 |
JEFFERSON | $322,000 |
$322,000 |
$412,200 |
$412,200 |
$498,250 |
$498,250 |
$619,250 |
$619,250 |
SEATTLE-TACOMA-BELLEVUE-KING-PIERCE-SNOHOMISH | $592,250 |
$667,000 |
$758,200 |
$853,900 |
$916,450 |
$1,032,150 |
$1,138,950 |
$1,282,700 |
BREMERTONKITSAP | $310,500 |
$330,050 |
$397,500 |
$422,500 |
$480,450 |
$510,700 |
$597,100 |
$634,700 |
PIERCE | $592,250 |
$667,000 |
$758,200 |
$853,900 |
$916,450 |
$1,032,150 |
$1,138,950 |
$1,282,700 |
SAN JUAN ISLANDS | $483,000 |
$483,000 |
$618,300 |
$618,300 |
$747,400 |
$747,400 |
$928,850 |
$928,850 |
SKAGIT | $315,100 |
$315,100 |
$403,350 |
$403,350 |
$487,600 |
$487,600 |
$605,950 |
$605,950 |
SKAMANIA | $408,250 |
$448,500 |
$522,600 |
$574,150 |
$631,750 |
$694,000 |
$785,100 |
$862,500 |
SPOKANE-SPOKANE VALLEY, WA | $275,665 |
$294,515 |
$352,950 |
$377,075 |
$426,625 |
$455,800 |
$530,150 |
$566,425 |
OLYMPIA/THURSTON | $297,850 |
$316,250 |
$381,300 |
$404,850 |
$460,900 |
$489,350 |
$572,800 |
$608,150 |
BELLINGHAM/WHATCOM | $320,850 |
$345,000 |
$410,750 |
$441,650 |
$496,500 |
$533,850 |
$617,000 |
$663,450 |
###
HUD's mission is to create strong, sustainable, inclusive communities and quality affordable homes for all. More information about HUD and its programs is available on the Internet at www.hud.gov and https://espanol.hud.gov.
You can also connect with HUD on social media and follow Secretary Carson on Twitter and Facebook or sign up for news alerts on HUD's Email List.