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HUDNo.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

 

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