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2019 FHA Loan Limits in Alaska

The federal government has set the maximum amount an Alaskan can borrow with an FHA loan between $314,827 and $486,450 for a single-family home, depending on which county the property is located in. The lower number applies to rural areas, such as the Lake and Peninsula Borough, while folks in some urban areas might be able to qualify for more than $400,000.

Dreaming about buying a house in Alaska? This may be the perfect time to make the leap. Data from the Alaska Department of Labor and Workforce Development show houses in the nation’s 49th state have become more affordable in the past decade, thanks to low interest rates, less competitive bidding for homes and fewer foreclosures.

And thanks to the Federal Housing Administration (FHA), some Alaskans can qualify for federally backed loans to help get them into a new house. This year, interested Alaskans will be able to borrow even more in some areas to make their homebuying dreams come true.

Alaska FHA loan limits by county

FHA Loan Limits in Alaska
County Single-Family Limit Two-Family Limit Three-Family Limit Four-Family Limit Median Sale Price
Aleutians East $314,827 $403,125 $487,250 $605,525 $133,000
Aleutians West $385,250 $493,200 $596,150 $740,850 $226,000
Anchorage Munic $401,350 $513,800 $621,050 $771,850 $349,000
Bethel Census A $314,827 $403,125 $487,250 $605,525 $162,000
Bristol Bay Bor $314,827 $403,125 $487,250 $605,525 $213,000
Denali Borough $314,827 $403,125 $487,250 $605,525 $244,000
Dillingham Cens $314,827 $403,125 $487,250 $605,525 $210,000
Fairbanks North $314,827 $403,125 $487,250 $605,525 $242,000
Haines Borough $314,827 $403,125 $487,250 $605,525 $256,000
Hoonah-Angoon C $314,827 $403,125 $487,250 $605,525 $251,000
Juneau City And $455,400 $583,000 $704,700 $875,750 $396,000
Kenai Peninsula $314,827 $403,125 $487,250 $605,525 $224,000
Ketchikan Gatew $369,150 $472,550 $571,250 $709,900 $321,000
Kodiak Island B $407,100 $521,150 $629,950 $782,900 $354,000
Kusilvak Census $314,827 $403,125 $487,250 $605,525 $109,000
Lake And Penins $314,827 $403,125 $487,250 $605,525 $155,000
Matanuska-Susit $401,350 $513,800 $621,050 $771,850 $349,000
Nome Census Are $391,000 $500,550 $605,050 $751,900 $319,000
North Slope Bor $332,350 $425,450 $514,300 $639,150 $165,000
Northwest Arcti $314,827 $403,125 $487,250 $605,525 $157,000
Petersburg Cens $332,350 $425,450 $514,300 $639,150 $228,000
Prince Of Wales $314,827 $403,125 $487,250 $605,525 $183,000
Sitka City And $486,450 $622,750 $752,750 $935,500 $423,000
Skagway Municip $415,150 $531,450 $642,400 $798,350 $327,000
Southeast Fairb $314,827 $403,125 $487,250 $605,525 $216,000
Valdez-Cordova $314,827 $403,125 $487,250 $605,525 $244,000
Wrangell City A $332,350 $425,450 $514,300 $639,150 $196,000
Yakutat City An $420,900 $538,800 $651,300 $809,450 $177,000
Yukon-Koyukuk C $314,827 $403,125 $487,250 $605,525 $97,000

How are FHA loan limits determined?

The U.S. Department of Housing and Urban Development (HUD) sets limits on how expensive a house the FHA will insure in each county in the United States. These limits are set based on the current year’s conforming loan limit — or how large of a mortgage Fannie Mae and Freddie Mac will purchase. In 2019, that conforming limit is $484,350.

The FHA “floor” is the largest mortgage the agency will issue in most of the country and is set at $314,827 in 2019.

The FHA “ceiling” is a higher limit that only applies to high-cost areas. This is set at 150% of the conforming loan limit, or $726,525 for single-family homes. With a few exceptions, this is generally the largest mortgage amount the agency will insure for a single-family home. In many parts of the country, loan limits fall somewhere between the FHA floor and ceiling.

Here are the 2019 standard FHA limits for all property types:

  • One-unit: $314,827
  • Two-unit: $403,125
  • Three-unit: $487,250
  • Four-unit: $605,525

Here are the 2019 standard FHA limits for high-cost areas:

  • One-unit: $726,525
  • Two-unit: $930,300
  • Three-unit: $1,124,475
  • Four-unit: $1,397,400

Do you qualify for an FHA loan in Alaska?

FHA loans are a great deal for qualified buyers thanks to lower down payments and closing costs. Find out if your <href=”https://www.lendingtree.com/credit-repair/how-to-improve-your-credit-score/”>credit score and income will help you qualify for one of these loans.

 

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