HUD Announces Higher FHA Loan Limits for 2020

December 18, 2019

The Department of Housing and Urban Development has released the FHA loan limits for 2020. There was an overall increase in the FHA loan limit for many counties; the HUD list of counties with higher FHA loan limits in the new year is a whopping 75 pages long. 

Only 11 jurisdictions saw an FHA loan limit rate decrease; Orange County in New York, Lincoln County in Idaho, and Hood County in Texas are among the 11 jurisdictions with lower FHA loan limits in 2020.

The FHA Single-Family Home Loan Guaranty Limits for the year 2020 include the following:

2020 FHA Nationwide Loan Guaranty Limits

• FHA single unit mortgage floor= $331,760
• FHA single unit mortgage ceiling=$765,600

2020 FHA Loan Limits For Low-Cost Areas

• Set at 65 percent of the national conforming limit of $510,400
• One-unit: $331,760
• Two-unit: $424,800
• Three-unit: $513,450
• Four-unit: $638,100

2020 FHA Loan Limits For High Cost Areas

• Set at 150 percent of the national conforming limit of $510,400
• One-unit: $765,600
• Two-unit: $980,325
• Three-unit: $1,184,925
• Four-unit: $1,472,550

There are also FHA loan limits for areas that are considered “Special Exception Areas” that are more costly than most High Cost Areas:

2020 Special Exceptions Loan Limits for Alaska, Hawaii, Guam, and the Virgin Islands

• Adjusted by FHA to account for higher costs of construction
• One-unit: $1,148,400
• Two-unit: $1,470,475
• Three-unit: $1,777,375
• Four-unit: $2,208,825

Ask your loan officer if you aren’t sure how the new FHA loan limits may affect your transaction, but know that in general these FHA loan limits are effective for all FHA home loans with case numbers issued on or after 1 January 2020.

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