The Federal Housing Administration increased the loan limits for 2023 in 3,222 counties across the country due to house price appreciation through the first half of last year. FHA limits inform borrowers of the maximum allowable loan amount available to purchase a home for every county. Home Purchase and Refinance Loans

FHA Loan Programs for 2023

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FHA Loan Requirements

Lower Standards for Credit Scores and Down Payments

Whether you're a first-time homebuyer, moving to a new home, or want to refinance your existing conventional or FHA mortgage, the FHA loan program will let you purchase a home with a low down payment and flexible guidelines.

580 Credit Score
- and only -
3.5% Down

FHA loan limits were established to define how much you can borrow for a HUD-backed mortgage. Each state has different limits, so be sure to look up your state to understand what is available for your FHA home loan.

For 2023, the FHA floor was set at $472,030 for single-family home loans. This minimum lending amount covers most U.S. counties. The FHA ceiling represents the maximum loan amount and is illustrated in the table below.

FHA Limits (low cost areas)

Also for 2023, the FHA ceiling was set at $1,089,300 for single-family home loans. This represents the highest amount that a borrower can get through the FHA loan program. It applies to high cost areas in the United States and is illustrated in the table below.

FHA Limits (high cost areas)

Paying the upfront costs of buying a new home can be challenging. To help overcome this hurdle, many local and state agencies offer down payment assistance in the form of grants or second mortgages.

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FHA Loan Articles and Mortgage News

FHA And HUD Update Mortgage Loan Policies

October 26, 2023 - FHA loan rules allowed borrowers to apply for a mortgage to buy an owner-occupied single-family home. Now, there is an FHA policy that allows a similar consideration for existing or proposed Accessory Dwelling Units or ADUs and count income from these units towards loan qualification.

FHA Loans and Wire Transfer Scams

October 22, 2023 - Borrowers looking to close an FHA home loan or any other type of mortgage should know about a specific type of home loan scam targeting those about to make the final arrangements with the lender and seller before closing day.

Some FHA Loan Down Payment Issues

October 20, 2023 - When you buy a home with an FHA mortgage, you need to provide a down payment or have one provided for you via approved sources, such as a local down payment assistance program that meets FHA standards or money from friends and family.

What to Make of Short-Term Changes in Mortgage Rates

October 19, 2023 - The recent difference in mortgage rates between fixed and adjustable rate mortgages has been narrower than usual. But in the second week of October, that changed. As a result, ARM loan applications increased by some 15%, according to published sources.

Another Reason Why Some Home Loan Applicants Are Denied

October 18, 2023 - Whether you apply for an FHA mortgage loan, a VA home loan, or a conventional equivalent, some issues can derail the home loan application. Missed housing payments, FICO scores that don’t meet lender standards, or a lack of time in the job market are all factors that can lead to a loan denial.

Buying A Home? Third-Party Services You Do and Don't Need

October 17, 2023 - If you are buying a home with an FHA loan and you don’t have much experience shopping around for a lender, realtor, or contractor, you might wonder whether the services you are pricing are worth the money.

Home Buying and Building Options With FHA Mortgages

October 16, 2023 - With an FHA mortgage, your low down payment options include 3.5% of the price of the home if your FICO scores are 580 or higher (FHA loan program rules, not lender standards), and you get this loan with no early payoff penalty should you choose to refinance later to get a better interest rate.

Five More FHA Loan Questions

October 15, 2023 - New borrowers often have questions about the FHA home loan journey. Here are some of the most popular. Remember that many issues surrounding FHA loan approval are circumstantial. The answers you need may depend on your personal circumstances, as we’ll explore below. 

Home Loans and House Prices

October 14, 2023 - Some would rather build from the ground up using an FHA One-Time Close construction loan where others might decide to buy an existing home using an FHA adjustable rate mortgage. These are just two options, but they are among the most common.

FHA Adjustable Rate Mortgages

October 13, 2023 - Borrowers applying for FHA home loans do so to get new purchase home loans, refinance loans, and Home Equity Conversion Mortgage loans. Did you know you can apply for new purchase or refinance FHA loans that come with adjustable interest rates?

If you’re getting ready to shop around for mortgage options, it’s a good idea to brush up on some of the technical terms in our Mortgage Glossary. You’re going to be hearing a lot of them!