FHA Mortgage Limits

by Andrew Shveda from Watertown, Massachusetts USA

Frustrated over FHA mortgage limits: Hi Kate, My wife and I are first time home buyers and were pre-approved for an FHA mortgage through a nationwide mortgage bank.

But we were not aware of the loan limits by counties and how much they can vary over such small distances, especially in NE Connecticut on the Massachusetts and Rhode Island borders.

We went looking last weekend and found a wonderful house and in our price range. Obviously we got very excited and called our guy at the bank only to learn that in Windham County, Connecticut, where the house is located, we can only get an FHA loan of $272.5k, the bare minimum for the entire country.

If you go 2.5 miles north we can get $385k in Worcester, Massachusetts. Go 4.5 miles to the east we can get $475k in Rhode Island. Go 11 miles to the west in Tolland County, Connecticut we can get $440k! And 24 miles south one can get $398.75k in New London County.

Is there any authority we can appeal to in order get FHA mortgage limits raised? It seems so darn arbitrary and lacks logic the way it's set up as well as placing this one particular county in a hole with respect to home sales simply because they didn't go hog wild the past few years and artificially jack up their prices. Please help us and Windham County. Thank you.

About FHA Mortgage Limits

Dear Andrew, I understand how disappointed you must feel to find your dream house, then be told because of FHA mortgage limits, you can't borrow enough to buy it. If only you could pick up the house and move it!

I wish I had the power to veto FHA and its loan limits that are frustrating you. What I can offer is a way for you to check out counties on your own. That way at least you are not forced to rely on the large bank originating your mortgage.

Go here to FHA Mortgage Limits and input the county that interests you. You will know immediately the upper limits available before getting your heart set on another home.

I have provided links to uncommon information about FHA mortgage loans at the bottom of this page for your convenience. By all means, please let me know if you have more questions.

Take a moment to bookmark FHA Mortgage Limits to your favorites and visit often for more FHA tips. Andrew, you can also invite friends to comment on this page or ask another question of their own like you did.

Best Wishes,

Ask Kate how to get the best mortgage rates
Ask Kate

P.S. Go to my Best Mortgage Rate Blog, an entertaining source of mortgage information. Subscribe now to the RSS feed.

FHA, VA, and USDA Home Loans

USDA vs FHA Home Loan Mortgage Program: Compare the home buyer benefits of FHA financing to USDA Rural Home Loans.

USDA Rural Home Loans: Zero down payment program for home buyers not shopping for a farm.

USDA Rural Home Loan Refinance: NO appraisal. NO credit report. NO debt-to-income ratios.

FHA Reverse Mortgage Refinance Program: Income without a monthly payment for Senior homeowners.

FHA Reverse Mortgage Purchase Program: Income without a monthly payment for Senior home buyers.

FHA Streamline Refinancing Announcement: Astonishing decrease in FHA mortgage insurance premiums.

FHA Streamline Refinance: Simplest way for FHA borrowers to get a lower mortgage rate.

Leaky roof, broken steps, peeling paint rescued by FHA rehab loan!

Today's FHA home loans are new and improved.

FHA loan requirements and there's plenty of them.

Join the Americans benefiting from FHA mortgage loans.

Lenders require FHA appraisals. Realtors advise home inspection. Why both?

When you call a lender to refinance, do you hear FHA loan limits are too low for your area?

FHA refinance vs myths - Powerful benefits to refinancing with FHA mortgage loans.

Does the government owe you FHA refunds?

A simple way to prepare for your lender's FHA eligibility calculator.

3 powerful but simple tips to finding your best FHA lenders.

VA Mortgage Loans: - No down payment mortgage loans for active military and veterans.

FHA, VA, USDA Rural Home Loan Questions: Unique answers by Ask Kate.

Return from FHA Mortgage Limits to Get Your Best Mortgage Rate

Click here to add a comment.

You can also ask Kate about your mortgage at Ask Kate About Buying a House.

Recent Articles

  1. List of Mortgage Companies - Kate's Lender Directory

    Jul 18, 18 12:02 PM

    Welcome to List of Mortgage Companies, a professional lender directory for homeowners and home buyers, organized conveniently from Alabama to Wyoming.

    Read more

  2. List of Mortgage Companies in Wyoming

    Jul 18, 18 11:26 AM

    List of Mortgage Companies in Wyoming: Find your best mortgage loans in Cheyenne, Casper, and other Wyoming cities using this mortgage lender directory.

    Read more