FHA Loan Requirements, Limits and Approval Tips
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2022 FHA Loan Limits in Hawaii

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Dreaming about buying a house in Hawaii? A mortgage backed by the Federal Housing Administration (FHA) could help. In Hawaii, FHA loan limits range from $477,250 to $845,250 for a single-family home, depending on the island.

Hawaii FHA loan limits by county

County nameOne familyTwo familyThree familyFour familyMedian sales price

How are FHA loan limits determined?

The U.S. Department of Housing and Urban Development (HUD) uses the conforming loan limits set by the Federal Housing Finance Agency (FHFA) to establish FHA loan limits.  Because housing prices change over time and can be vastly different depending on location, the basis for each county’s loan limit is its average home sales price from the prior year.

The lowest FHA loan limit is calculated as 65% of the conforming loan limit. This is called the FHA “floor,” and it’s the maximum FHA loan amount permitted on single-family home purchases for most of the country. The FHA “ceiling” is 150% of the conforming limit and only applies to high-cost areas.

For 2022, the conforming loan limit for one-unit properties increased by 18% over last year. The national FHA range this year is $420,680 to $970,800, with some exceptions up to $1,456,200 in Alaska, Guam, Hawaii and the Virgin Islands.

How to qualify for an FHA loan in Hawaii

FHA loans can help buyers who don’t meet conventional loan requirements still qualify for a mortgage. Hawaii’s first-time homebuyer programs could offer additional assistance.

Whether If you’re a first-time homebuyer, here are the main FHA loan requirements:

  • Don’t exceed the FHA loan limit for the area: Your mortgage amount can’t be higher than the limit HUD set for the county. This doesn’t mean you can’t buy a more expensive house, however. You could make up the difference with a larger down payment.
  • Make at least a 3.5% down payment: If you have a 580 credit score or higher, you may qualify to make the minimum required 3.5% down payment. If your credit score is between 500 and 579, you’ll need to put at least 10% down.
  • Have a credit score of at least 500: You could qualify for an FHA loan with a credit score in the lower 500s, depending on the lender. You can check your credit score here.
  • Have a debt-to-income (DTI) ratio of 43% or less: A healthy DTI ratio is less than 43%. Some lenders may offer exceptions.
  • Get a home appraisal: You must get an FHA home appraisal on the property you want to purchase.
  • Include mortgage insurance: FHA loans require two types of mortgage insurance: The annual mortgage insurance premium (MIP), which costs 0.45% to 1.05% of your loan amount, and the 1.75% upfront mortgage insurance premium (UFMIP), which is charged at closing and rolled into your mortgage.

Buying a multifamily property with an FHA loan

You could purchase a multifamily house with up to four separate living spaces through the FHA loan program, such as a duplex, triplex or quadruplex. You must live in one of the units, otherwise you’d need an investment property mortgage. The same FHA requirements apply, including a minimum 3.5% down payment.

FHA lenders in Hawaii

Here are five highly rated mortgage companies that are licensed to lend in Hawaii.

Lender nameLT ratingMinimum FHA credit score
BMO Harris Bank8.5 / 10580
Rocket Mortgage9.5 / 10580
Guild Mortgage9.5 / 10620
AmeriSave Mortgage8 / 10600
Wells Fargo8 / 10NA


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